GenerUs Incorporated board of directors approved a charitable cash contribution to FoodBank, a qualified nonprofit organization, in November of 2020. GenerUs made the payment to FoodBank on February 2, 2021. GenerUs Incorporated (a calendar-year corporation)may claim a deduction for the contribution on its 2020 tax return.

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The contribution was approved by the board of directors in November 2020, which falls within the 2020 tax year. The actual payment was made in 2021, but as long as it was made by the due date of the corporation's tax return (including extensions), it can still count as a deduction for the 2020 tax year.

GenerUs Incorporated Board of Directors Approved a Charitable Cash Contribution