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?
0117895
1 Replies
AnnetteB6
Expert Alumni
Apr 24, 2024 2:52:45 PM
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.