Small business tax question about a charitable contribution.?
My husbands business donated to a qualified charity but I cannot find where to enter it in on the schedule C. Do I put it under advertising? I know that is where I put the sponsorship of a sports team. And please do not tell me to ask an accountant we know we will only get about $80 back so paying someone $400 is not feasable. If you have any answers please let me know.
He donated cash to a qualified organization
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
August 31st, 2010 at 10:20 am
The charitable contribution goes on schedule A, as usual. If you don’t itemize, too bad.
There is no place on schedule C because you don’t get a charitable contribution as a business expense.
August 31st, 2010 at 10:22 am
It does not go on a Sch. C it is reported on a Sch. A…thus, if you don’t have enough to itemize it is useless (tax wise only…not socially).
Sorry!
But, hope this helps.