Charitable donation question

Forum|Forum|2 years ago
April 24, 2024
1 reply
1 view

Hello,

If I made a donation of my business service, for example, $200 value, to a non-profit organization, the deduction section doesn’t show (in-kind description and $value), but asks for money donated- is this considered the same thing?

Ask the Experts - Refund II - April 2024

AnnetteB6

Level 15

No. You are not allowed to deduct the value of your time or services as a charitable contribution. If you had business expenses related to the service provided (supplies, as an example), then those expenses are deducted as a normal business expense. You receive the tax benefit of your donation by not having that $200 reported as income for your business but you are still claiming the associated expense.

To learn more, take a look at the IRS Publication 526 Charitable Contributions. Go to the section titled Contributions You Can't Deduct.

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