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Deductions & credits
did some checking of my own the carryover for charitable contributions is only if it is limited one year then you can carry over the addition contribution forward up to 5 years.
If you make a very large charitable donation in a single year, you may not be able to deduct all of your donation in that year. The IRS limits the amount of deduction you can take to a percentage (50% for non-cash, or 60% of cash contributions) of your adjusted gross income (AGI). If this happens to you, you can deduct the remainder of your donation in subsequent years. This is called a charitable contribution carryover and it becomes an itemized deduction on Schedule A
March 16, 2020
12:15 PM