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Have a schedule C biz as a musician/ composer and played a benefit concert for hospitality house. $1800 from a 1099 was donated. do I list as a concert expense ?

 
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Leonard
Intuit Alumni

Have a schedule C biz as a musician/ composer and played a benefit concert for hospitality house. $1800 from a 1099 was donated. do I list as a concert expense ?

You will have to report the $1800 reported on Form 1099-MISC as income.  The donation cannot be deducted as a concert expense.

Donations are deducted on Schedule A if you itemize your deductions if you take the standard deduction then you can not deduct the donation.

 

[Edited 03/10/2020 | 2:42 pm PDT]

 

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1 Reply
Leonard
Intuit Alumni

Have a schedule C biz as a musician/ composer and played a benefit concert for hospitality house. $1800 from a 1099 was donated. do I list as a concert expense ?

You will have to report the $1800 reported on Form 1099-MISC as income.  The donation cannot be deducted as a concert expense.

Donations are deducted on Schedule A if you itemize your deductions if you take the standard deduction then you can not deduct the donation.

 

[Edited 03/10/2020 | 2:42 pm PDT]

 

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