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Entering charitable contributions on Form 1120S in ProSeries

by Intuit Updated 1 month ago

Before you start:

  • If the S corporation made non-cash contributions in excess of $500, prepare Form 8283, Noncash Charitable Contributions, and attach it to the return. Form 8283 should also include the information from any partnership K-1's. The program does not calculate noncash information from partnership K-1's on Form 8283. Review the IRS instructions for Form 8283 to determine what information is required.
  • Refer to the IRS Instructions for Form 8283 if the deduction for any item or group of similar items of contributed property exceeds $5,000, even if the amount allocated to any shareholder does not exceed $5,000.

Where do I enter?

  1. Navigate to Form 1120S, Page 3, line 12a.
  2. On line 12a, use the expanding table to enter the charitable contributions, specifying the amounts of contributions subject to each of the 50%, 30%, 20% and 100% AGI limits and cash or noncash using the codes in the code column at the left edge of the table.

The expanding table for lina 12a is limited to 30 entries.

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