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Deductions & credits
@seceng2018 wrote:
...Am I able to take charitable contribution as an 100% expense through the S Coporation, if I do not take them on my personal return?
The contribution is a pro rata share item (Schedule K on your 1120-S) and is passed through to you on your K-1 which, in turn, is entered on your individual income tax return.
‎January 1, 2021
10:04 AM
549 Views