OlgaS
Employee Tax Expert

Business & farm

Charitable contributions made by S-Corporations flows to schedule K-1 for Shareholders, after that they flows to Itemized deduction on the individual tax return (form 1040, Schedule A). So from the Federal view, it doesn't make a difference.

But, some states allow you have additional adjustment of your income before tax calculation due to charitable contributions. Please check your state rules.

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