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posted Jun 4, 2019 12:42:06 PM

Am I able to deduct charitable contributions if I have negative AGI?

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1 Best answer
Intuit Alumni
Jun 4, 2019 12:42:08 PM

No, they would need to be carried forward to next year.

According to the IRS:

"If your total contributions for the year are 20% or less of your adjusted gross income, you don't need to read the rest of this section. The remaining limits discussed in this section don't apply to you.

The amount you can deduct for charitable contributions generally is limited to 50% of your adjusted gross income. Your deduction may be further limited to 30% or 20% of your adjusted gross income, depending on the type of property you give and the type of organization you give it to. A higher limit applies to certain qualified conservation contributions. These limits are described in detail in this section.
Your adjusted gross income is the amount on Form 1040, line 38."

https://taxmap.irs.gov/taxmap/pubs/p526-005.htm

1 Replies
Intuit Alumni
Jun 4, 2019 12:42:08 PM

No, they would need to be carried forward to next year.

According to the IRS:

"If your total contributions for the year are 20% or less of your adjusted gross income, you don't need to read the rest of this section. The remaining limits discussed in this section don't apply to you.

The amount you can deduct for charitable contributions generally is limited to 50% of your adjusted gross income. Your deduction may be further limited to 30% or 20% of your adjusted gross income, depending on the type of property you give and the type of organization you give it to. A higher limit applies to certain qualified conservation contributions. These limits are described in detail in this section.
Your adjusted gross income is the amount on Form 1040, line 38."

https://taxmap.irs.gov/taxmap/pubs/p526-005.htm