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seceng2018
New Member

S Corporation - Charitable Cash G- Contribution 100% Limit

I am a sole employee of a S Corporation.  Am I  able to take charitable contribution as an 100% expense through the S Coporation, if I do not take them on my personal return?  All contribution were to valid organizations (Salvation Army, Church, Samaritan's Purse, etc.) check/credit card with the appropriate record documentation.

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tagteam
Level 15

S Corporation - Charitable Cash G- Contribution 100% Limit


@seceng2018 wrote:

...Am I  able to take charitable contribution as an 100% expense through the S Coporation, if I do not take them on my personal return? 


The contribution is a pro rata share item (Schedule K on your 1120-S) and is passed through to you on your K-1 which, in turn, is entered on your individual income tax return.

View solution in original post

1 Reply
tagteam
Level 15

S Corporation - Charitable Cash G- Contribution 100% Limit


@seceng2018 wrote:

...Am I  able to take charitable contribution as an 100% expense through the S Coporation, if I do not take them on my personal return? 


The contribution is a pro rata share item (Schedule K on your 1120-S) and is passed through to you on your K-1 which, in turn, is entered on your individual income tax return.

View solution in original post

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