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October 5, 2023
Question

How do I categorize a monthly donation I make to a charitable organization? Is it a business expense? What category? If I have to make a category, it's not obvious. Thx

  • October 5, 2023
  • 1 reply
  • 3 views
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1 reply

Adrian_A
Level 8
October 5, 2023

Hi orenoroborus,

 

I'm here to ensure you can record the donations correctly.

 

When you make donations or charitable contributions, how you record them depends on the type of donation you've made. Recording a cash donation is different from recording the donation of products or services that you usually sell.

 

To donate cash, you can set up the charitable organization you're donating to as a vendor so that, when you make a donation, you can record it as a check or a bill and payment. Then, make sure to select an expense account.

 

To ensure you choose the appropriate account, I suggest reaching out to your accountant so they can guide you accordingly.

 

You can review this article that has lists of different expense categories: Schedule C and expense categories in QuickBooks Self-Employed.

 

Moreover, I've added this link to get your self-employed tax information into TurboTax: Send QuickBooks Self-Employed tax info to TurboTax Self-Employed or Live.

 

Keep me posted whenever you have tax concerns.