LindaS5247
Expert Alumni

Deductions & credits

If you had any unused charitable carryovers on last year's return, and you transferred that return information over to this year's TurboTax, you don't have to do anything.  It'll be entered by TurboTax for you.


In general, you can carry over your charitable contributions that you can not deduct in the current tax year because they have exceeded your adjusted-gross-income limits. You will be able to deduct the excess charitable contribution carry over in each of the next 5 years until it is all used, but not to exceed five years.

 

Your deduction for charitable contributions generally can't be more than 60% of your AGI.

 

A consolidated Form 1099 is not the same as a Form1099-MISC.

 

A consolidated Form 1099 combines multiple separate 1099 forms into one tax reporting document. On a consolidated Form 1099 you may see tax forms such as a 1099-B, 1099-DIV, 1099-INT, 1099-MISC, and 1099-OID. 

 

A consolidated 1099 tax form will show all of your income and transactions for the respective tax year.

 

 

Click here for "What is a 1099 consolidated tax statement?"


Click here for "How do I enter a charitable carryover?"

 

Click here for "Publication 526 (2024), Charitable Contributions"


 

 

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