turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

pmschoppe
New Member

How do I handle a 501 (c) (3) payout?

we received donations from two 501 (c) (3) charities, where do I log that info in my tax return.  and also what product is best for me to buy to file my tax return for 2016 to handle this scenario?  the deluxe or do I need the premier?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

How do I handle a 501 (c) (3) payout?

Unless you did something in return for those donations, they are gifts and are not taxable income to you.

View solution in original post

2 Replies

How do I handle a 501 (c) (3) payout?

Unless you did something in return for those donations, they are gifts and are not taxable income to you.

How do I handle a 501 (c) (3) payout?

If you itemize, though, you can record those funds as non taxable income for purposes of the Sales Tax deduction.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies