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Force itemized deductions to preserve and carry over charitable contributions?
I have an unusual tax situation in 2018 and 2019. I'm self employed in Minnesota. In 2018 I show a net operating loss (NOL). Conversely, in 2019, I will have a large income and will owe lots in taxes. Currently, doing my 2018 return, Turbo Tax is choosing the standard deduction for me, even though I have lots of charitable deductions ---- that are eligible for carry over to 2019 if I itemize. With no income in 2018, I don't care if I file using standard or itemized deductions. I pay no tax in 2018 either way. I have learned how to force itemized deductions for 2018, using the TT community.
Shouldn't I force itemized deductions for 2018 in order to enjoy the charitable deduction carryover for the 2019 tax year?
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‎February 25, 2019
7:03 PM