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Cash contributions made by S corp to 501C3

Level 4

I am preparing the K-1. What code do I use for cash contributions to a 501c3.? Is it A or G?

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6 Replies 6
Level 11

What are the rules for 100% donations?

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Level 15

"What are the rules for 100% cash donations by S Corps?"

(fixed it for you)

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Level 4

please confirm- cash contributions to a 501c3 are now code G? even if not a disaster area?

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Level 15

https://www.irs.gov/instructions/i1120s#idm140355079185616

https://www.dinesentax.com/s-corporations-charitable-contributions-brief-overview/

 

 

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Level 4

Those articles do not answer my question. The IRS article was dated 2019 and the other article did not mention the K-1 codes.

Please provide  a more direct answer to my question. Regarding the S corp K-1, are cash contributions to a 501c3 in box G or A?

 

I am only looking for a Letter response. G or A

 

That simple!

 

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Level 15

"The IRS article was dated 2019"

It states clearly at the top it is for 2020.

"Instructions for Form 1120-S (2020)

U.S. Income Tax Return for an S Corporation"

"and the other article did not mention the K-1 codes."

But the first one, the Actual Instructions, have it. First, you use Find, and search for "cash contributions" and I set mine to Highlight All. You find this:

"Certain cash contributions made in 2020 or 2021.

...See Line 12a. Charitable Contributions under Specific Instructions for Schedules K and K-1."

And then, change your find to "Line 12a" and read this part:

"Line 12a. Charitable Contributions"

And below this heading is this subheading: "The codes needed for Schedule K-1 reporting are provided for each category."

And then you keep reading.

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