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Yes even if you own a Sch C business, charitable donations go on Schedule A of Form 1040.
Charitable contributions are reported on Form 1040, Schedule A, lines 11-13. Schedule A is for itemized deductions and should be higher than the standard deduction. For tax year 2024 the standard deduction is:
Single 14,600
Married filing jointly 29,200
Head of household 21,900
Federal>Deductions and Credits>Charitable Donations>Donations to Charity
If you do not have enough deductions to itemize, then your donations will not affect your refund or tax due. You will just receive the standard deduction.
A charitable donation almost never changes your tax due or refund all by itself. First, your donation does not count "dollar for dollar"--it is calculated by a percentage based on your tax bracket. You need a LOT of other itemized deductions like mortgage interest or property taxes, medical expense, etc. to itemize and exceed your standard deduction.
2024 STANDARD DEDUCTION AMOUNTS
SINGLE $14,600 (65 or older/legally blind + $1950)
MARRIED FILING SEPARATELY $14,600 (65 or older/legally blind + $1550)
MARRIED FILING JOINTLY $29,200 (65 or older/legally blind + $1550)
HEAD OF HOUSEHOLD $21,900 (65 or older/legally blind + $1950)
There is only 1 way to report it. Where/how have you been reporting it? Are you filling out schedule C for self employment? It doesn't go on schedule C.
donations for a business...yes I was putting on schedule c.
Even though you own a business the charity does on your personal 1040?
Thanks.
Would their personal deductions (donating to charity) be put on their taxes for business if they own the business or are personal charitable deductions and business charity deductions filed differently?
Yes even if you own a Sch C business, charitable donations go on Schedule A of Form 1040.
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