- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
Thank you for participating in this event!
May 22, 2024
9:44 AM