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Deductions & credits
I am having a similar problem. My actual charitable contributions are about 75% of my AGI. That is being capped at 50% of AGI on Schedule A Line 11, then another equal amount of 50% of AGI (from 2017) is listed as carryover on Line 13. That puts my charitable donation deduction at 100% of AGI, but I also have property taxes of $10,000, so TurboTax is burning $10,000 of my charitable deductions carryover plus killing the effect of a foreign tax credit from some mutual fund dividends I have. How do I reduce the carryover amount? I cannot override it on Schedule A and there is no discernible way to do it in the Easy Step. Turbo Tax Team?
March 9, 2022
10:45 AM