This is not only about charity as previously stated.
To be more specific, for example:
IRS Taxes accessed for 2022 is $16,000.
Mortgage interest paid 2022 $18,000.
Mortgage taxes paid $7,000.
Planned Charity cash to church $10,000.
My deductions all around will exceed taxes owed amount for year 2022.
What will happen to excess mortgage interest and taxes paid in addition to charitable giving? Will I get carryover tax credit on 2023 and what can be done, if anything to mitigate this?
