Question

Charitable Donation or a Side Business 501.C.3 has no funds to pay officer salaries or reimbuse expenses?

Forum|Forum|6 years ago
August 6, 2019
1 reply
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I started a 501.C.3 last year and have been working from home. Also have marketing, meeting, transportation, etc. expenses. Due to the fact that I and the other co-founder have full-time jobs and can only meet work on Corp stuff during eventing and weekend, the startup has been slow; so the Corp has no income to pay staff /officers or reimburse expenses.

Since there was no 1099, can I claim my home office and related expenses -- as a donation or am I considered to be doing a side business -- thus needing to set up a business in order to access home office expenses?

Thanks.

Carl11_2

Employee

You can not use TurboTax to file a tax return for a non-profit 501(c)3. The program does not include the IRS Form 990 that is required to be filed by tax exempt entities. You have no choice but to seek professional help.

D

Dee12Author

Thanks for your response -- I apologize if I was unclear.

I am not asking about filings for the corporation ... I am asking about the expenses on my personal returns ... how should the non-reimbursed startup expenses incurred for the Corporation be reported on my taxes?