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Do I deduct my LLC's non-cash charitable donations on my personal income taxes?
I had $1300 ($650 at 50%) in non-cash charitable donations through my LLC partnership this year. It is showing up on all the appropriate Business tax forms, including the K1s, but it doesn't seem to be actually deducting the $650 in any way. Is this something I apply to our personal taxes? And, if so, does it go in charitable donations on our personal taxes? If not, where do we deduct it?
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‎April 14, 2021
1:03 PM