C Corp charitable contributions I'm helping my parents out with their Form 1040, so bear with me.
Their C Corporation made a charitable contribution on my parents' behalf. They own the C Corporations 100%. The C Corporation owed them money, so that amount owed was reduced by the amount of the contribution. The C Corporation did not deduct the charitable contribution on its Form. Can my parents' deduct it? I can't find anything that says they can't. |