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Deductions & credits
My question is similar, but checking, just in case....
I am itemizing. I also purchased an electric car, which gives me a $7500. tax credit that I may only use this year, however my income and deductions are only allowing me to use $6500 of this credit. I have given a significant percentage to charity, but not more than the 60% of AGI which would allow me to carry some of my contributions over to next year. My question-- may I still carry $10,000 of my contributions over to next year, which would increase my tax burden enough to allow me to make use of the full $7500. electric car tax credit?
‎April 8, 2020
5:34 PM