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As a sole proprietor, is a donation from my business to a nonprofit organization a deduction? How about if I don't realize a profit in the year of the deduction? As we don't itemize our 1040, I'm trying to see the best stategy for making the donation.

Thanks,
buckhill
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Charitable contributions from a sole proprietorship are considered personal charitable contributions and must be deducted on Schedule A (if deductions are itemized). See IRS Pub. 535, Business Expenses, pg. 51. They are not business expenses.

www.irs.gov/pub/irs-pdf/p535.pdf

Ira
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Thanks Ira

I sort of figured that would be the case. I guess that makes it a true donation.

buckhill
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