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Returning Member
posted Mar 29, 2022 10:30:52 PM

In the turbo tax business software I put $1,251 for charitable contributions. After submitting it does not show $1,251 but much less. Any ideas why?

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7 Replies
Level 15
Mar 30, 2022 4:42:39 AM

You are asking from TT Self-Employed, not TT Business. please clarify which one you are using.

 

If Self-Employed, is this a Schedule A deduction?

Returning Member
Mar 30, 2022 7:22:49 AM

Thanks for your reply. I'm using TT Business. It showed like the past 5 years.

Level 15
Mar 30, 2022 7:30:37 AM

Okay. Do you have an S Corp, Partnership, or C Corp?

Expert Alumni
Mar 30, 2022 7:41:07 AM

Did you itemize or take your standard deduction? If you itemized, were they cash contributions or noncash. If noncash itemized, check your entries.

 

If you took the standard deduction, your donation is limited to $300 for single and $600 for MFJ.

Returning Member
Mar 30, 2022 8:25:29 AM

I have a C corp

Returning Member
Mar 30, 2022 8:27:51 AM

I don't know the difference. I don't have any accounting experience. These were cash contributions. 

Level 15
Mar 30, 2022 8:32:29 AM

Just a question.  You have a C Corp and using the Business Desktop program installed on a Windows computer?  It shows you are posting from the Online Self Employed version.  That can't do a business C Corp return.

 

Or are you doing your personal 1040 return?