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Level 2
June 5, 2019
Question

How are charitable deductions carryover calculated in KY. Figure from TurboTax is incorrect and don't know how to fix it.

  • June 5, 2019
  • 1 reply
  • 25 views

Reviewing our KY State tax form, noticed yearly cash contributions carryover is wrong. How is it calculated?  I cannot find from any of the forms. I want to override the figure but not sure if that will correct the problem. The carryover in the Federal Return looks correct - but the KY State carryover is not correct. I do not want to submit with errors.

1 reply

Level 10
June 5, 2019

The Kentucky charitable deductions carryover is limited according to your adjusted gross income. Your allowable Kentucky contributions are limited to the lessor of below:

your total contributions including carryover

or

50% of your Kentucky adjusted gross income (form 740 line 9)