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How do I add income if I do not earn one from my non-profit?

I run a non-profit but do not give myself an income, but would like to take deductions for a small business.
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1 Reply
RobertB4444
Expert Alumni

How do I add income if I do not earn one from my non-profit?

Non-Profits have different filing requirements.  If you are a 501(c)3 organization or something of the like then you file a form 990 or 990-EZ and all of the income and expenses for the non-profit are entered there.  

 

Personal expenses for items that you have donated to the non-profit that you run are considered charitable donations and are entered as itemized deductions on schedule A.  You will need to have a receipt for everything that you enter there as a donation to the charity.  

 

Most folks still use the standard deduction even if they make charitable donations because they don't itemize their deductions.

 

Here is some information on non-profit tax filing.

 

@jessicaerussell 

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