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Income Tax Planning
Chapter 7: Itemized Deductions/CHARITABLE DEDUCTIONS BY CORPORATIONS
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 7: Itemized Deductions

CHARITABLE DEDUCTIONS BY CORPORATIONS

01.Core Concepts

• C corporations can deduct up to 10% of their taxable income. • Beginning in 2026, C corporation charitable contribution deductions are subject to a 1% of taxable income floor. • S corporations pass through charitable gifts (Form K-1) to owners who deduct their portion on personal income tax return.