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csstcy
New Member

How do I annotate charitable donations (schedule C or personal?) for charity sales events with our LLC (just me and my spouse) where we donate a portion of the profits?

 
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ChristinaS
Expert Alumni

How do I annotate charitable donations (schedule C or personal?) for charity sales events with our LLC (just me and my spouse) where we donate a portion of the profits?

Charity is personal (i.e. Schedule A, not Schedule C). Charity is never treated as a business expense by an incorporated business such as a sole proprietor or LLC. Only "C" corporations get to include it as a direct expense against net business income. Please add within the Deductions and Credits section of Turbo Tax.

Here's a good article by the Small Business Association:

https://www.sba.gov/blogs/how-small-businesses-can-get-tax-deductions-charitable-giving

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1 Reply
ChristinaS
Expert Alumni

How do I annotate charitable donations (schedule C or personal?) for charity sales events with our LLC (just me and my spouse) where we donate a portion of the profits?

Charity is personal (i.e. Schedule A, not Schedule C). Charity is never treated as a business expense by an incorporated business such as a sole proprietor or LLC. Only "C" corporations get to include it as a direct expense against net business income. Please add within the Deductions and Credits section of Turbo Tax.

Here's a good article by the Small Business Association:

https://www.sba.gov/blogs/how-small-businesses-can-get-tax-deductions-charitable-giving

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