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Employee
June 1, 2019
Solved

How to enter in political contributions for box 17 code v of form 1120s

  • June 1, 2019
  • 1 reply
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is it deductible for federal or state etc?
Best answer by ChelsiE2

Political Contributions are considered a Non-Deductible Expense.  If your 1120S Schedule K-1 reports these amounts in Box 17, you do not need to input this information into TurboTax for your Individual return.  It will have no effect on your tax return and should be considered informational only.

1 reply

ChelsiE2Answer
Employee
June 1, 2019

Political Contributions are considered a Non-Deductible Expense.  If your 1120S Schedule K-1 reports these amounts in Box 17, you do not need to input this information into TurboTax for your Individual return.  It will have no effect on your tax return and should be considered informational only.