- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Probably not. The carryover provisions only apply if your contribution amount is larger than various limits based on income. There are several such limits but they are all about half of your income. So if you have $100k of AGI and give away $60k of 50% AGI limit, you can only deduct up to $50k in the donation year, but can carryover the next $10k.
26 CFR 1.170A-10(a)(2) does say that you can still carryforward if you took the standard deduction, but only to the extent that, independent of the standard deduction, your contribution would have been limited.
https://www.law.cornell.edu/cfr/text/26/1.170A-10
"The carryover provisions apply with respect to contributions made during a taxable year in excess of the applicable percentage limitation even though the taxpayer elects under section 144 to take the standard deduction in that year instead of itemizing the deduction allowable in computing taxable income for that year."
**Mark the post that answers your question by clicking on "Mark as Best Answer"