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Deductions & credits
Yes, you can carryover your excess charitable contributions even if you don't itemize, but you must reduce the amount by the amount you would have been able to deduct if you had itemized in those years.
In other words, if you had $20,000 to carryover to 2021 and you income was $10,000, you have to reduce your carryover to 2022 by $6,000, that is:
Your income $10,000 X 60% contribution limit = $6,000
So the amount carried to 2022 would be $14,000.
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March 18, 2024
2:55 PM