Re: Charitable contributions deduction problems/errors
Mike,
I have continued studying this, since I am desperate and not getting any answers from TT :(
I believe the whole TT worksheet (Charitable Deduction Limits Worksheet for Carryover Contributions" which you displayed is incorrect, in that
(1) it does not match the IRS worksheet format and calculation in Pub 526.
(2) Pub 526 clearly states that this work sheet is NOT for use with carryover amounts from the prior year, as stated on page 17: "You can't use this worksheet if you have a carryover of a charitable contribution from an earlier year." That worksheet is only for current year. TT puts prior year numbers into the worksheet.
(3) TT seems to be calculating carryover to next year somewhere internally, and it is claiming too many deductions in my case, so that some are wasted and not deductible, since they exceed income.
Note that the order for use of carryover contributions is also clear in Pub 526, page 19: "For each category of contributions, you deduct carryover contributions only after deducting all allowable contributions in that category for the current year. If you have carryovers from 2 or more prior years, use the carryover from the earlier year first.
