Federal charitable contributions data entry
Enter current-year charitable contributions and review prior-year carryovers for Form 1120.
Enter contribution data
To enter current-year charitable contributions:
- Go to .
- Enter the contribution information in theCurrent year contributionstable.
- If any contributions aren't subject to the 10% limitation, enter that portion in thePortion of the contributions entered above that are qualified contributions not subject to 10% limitationfield. Enter only the portion of the current-year contributions that qualifies; don't add this amount to the current-year contributions you already entered.
You can also enter a
Contribution deduction (Override)
on this screen.Contribution carryovers that rolled over from prior years appear on the
5 Yrs
or 15 Yrs
tab. You can transfer over contributions limited by the 10% taxable income limitation for up to 5 tax years. You can transfer over contributions not subject to the 10% limitation for up to 15 years. You can't transfer back contributions to prior years.Calculate the contribution deduction
The application limits contributions to the lesser of the contributions available (current year plus prior years) or 10% of income. If a portion of the contributions isn't subject to the 10% limitation, the application instead limits that portion to 100% of income. When a return has both current-year contributions and contribution carryovers, the application fully deducts all current-year contributions before it deducts any contribution carryovers.
Review the contribution calculation
To review the contribution calculation:
- Go to .
- Drill down on line 19 to open the contribution workpapers.
- Review the income available, contributions available, limitation, deduction, and carryovers.
Print contribution carryover schedules
The application automatically prints the Contribution Carryover Schedules whenever a carryover amount exists and you haven't suppressed the schedule.
To check the suppression option:
- Go to tab.
- Review the suppress options in thePage 1 Schedulessection.
If the carryover schedule doesn't print, check for an override:
- Go to tabs.
- Verify that you haven't entered aCarryover to Next Year (Override). If you entered an override and the carryover schedule still doesn't print, remove the override.
AMT contributions
You can also generate an AMT Contributions Carryover Schedule. To enter the data, go to .
