1040 wrote:
And everyone fills out a 2 page 1040 main from. Repeat, everybody.
The point going back to the original posters is, there is no way to link specific income to a specific donation in a tax return.
There was a point made by someone a few days ago; you cannot donate money to the IRS. You can only donate money to qualifying non-profits. And that is what Trump is actually doing. There is no donation of government salary to the U.S. Treasury.
No one said that he doesn't complete a 1040.
The best way to have this explained is to see how he filed his taxes.
Salary income is separate from business income.
The only salary he has now is his presidential salary since he has put his other operations in a trust.
He does have other income from these businesses, though.
Each of the businesses that would be part of a partnership, LLC or S Corp would flow to his personal 1040.
Profit from shares in a C Corp would not except for dividends.
Deductions of his business income would have to be related to each of his business.
Therefore any other charitable donations must come from his salary - his presidential salary. So you can link specific income to specific donations. There are forms and documents to backup each line item on the 1040.
Recently, Trump allegedly donated $100,000 to the Surgeon General's office. This comes from his presidential salary.
It was not donated by one of his businesses.
But exactly how will it be treated on his tax return? I believe the public has a right to know that since it's public money.
What was the taxable benefit of the donations and what would his taxes have been without the donations?