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tamisimpsn-gmail
Level 1

I donated money to a local charity from my business account. What category should this be in? I do not see a Charitable Contribution option as a business expense?

 
4 Comments 4
Rustler
Level 15

I donated money to a local charity from my business account. What category should this be in? I do not see a Charitable Contribution option as a business expense?

That's because legally only a corporation can donate and claim a business expense.  Sole proprietors and partners would deduct the charitable contribution on schedule A if they qualify.

 

All that said, some folks books the donation as advertising expense

tamisimpsn-gmail
Level 1

I donated money to a local charity from my business account. What category should this be in? I do not see a Charitable Contribution option as a business expense?

Just to clarify, my business is able to take a deduction for charitable contributions.

 

My question is, what Category do I put this in? I don't see a good option in the choices. 

Bryan_M
QuickBooks Team

I donated money to a local charity from my business account. What category should this be in? I do not see a Charitable Contribution option as a business expense?

Hi there, tamisimpsn.

 

I'm here to help you clear things out. Schedule C in QuickBooks Self-Employed (QBSE) does not include a charity contributions area.

 

With that being said, I recommend reaching out to your accountant so that when you record this transaction it'll be accounted for correctly.

 

If you want to learn about what was updated with the expense categories, feel free to read this article: Updates to expense categories in QuickBooks Self-Employed.

 

Click the Reply button below if you have additional queries about managing your transactions in QBSE. I'll be happy to assist you. Keep safe and have a great day!

Rustler
Level 15

I donated money to a local charity from my business account. What category should this be in? I do not see a Charitable Contribution option as a business expense?

If you are using self employed, and filing a schedule C, the reason there is no expense account on schedule C is because, self employed (sole proprietors) do not qualify to make charitable donations from the business.  There are no exceptions to that.

Good luck

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