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Level 2
March 25, 2023
Question

K-1 charitable contribution

  • March 25, 2023
  • 2 replies
  • 1 view

I have a K-1 charitable contribution reported on K-1 Line 13, Code G.  When entered as part of my K-1 info, that amount also correctly shows up on the Cash Contributions Worksheet (Line 2) and Charitable Contributions Summary worksheet, but it isn't getting picked up on Schedule A so it won't recognize the deduction unless I override.  Thoughts?.

    2 replies

    Mike9241
    Level 15
    Level 15
    March 25, 2023

    the K-1 is wrong. the 100% was only in effect for 2020 and 2021 for cash contributions to certain charities. after that the maximum is 60%. so it needs to issue corrected k-1s to every partner affected.

     

     

    Mike9241
    mjm6249Author
    Level 2
    March 25, 2023

    👍