Submitted By: Wilson
Answered: December 10, 2013 8:30 am

I own rental property. Can I deduct a charitable contribution as a rental expense since I don’t itemize deductions?

No. An individual’s charitable contributions can be deducted only as an itemized deduction. Even if the rental property is a trade or business, with income and expenses reported on Schedule C rather than on Schedule E, and you can somehow tie the charitable contribution to the business, the donations are still taken by the owner only on Schedule A.

Tax Glossary

Amortizable bond premium

The additional amount paid over the face amount of an obligation that may be deducted.

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