1323575
using my chartiable donation to goodwill doesnt change my refund can I just use it next year as a carry over
You'll need to sign in or create an account to connect with an expert.
Itemized deductions do not carry over year to year. Donations can only be deducted in the year they were donated.
did some checking of my own the carryover for charitable contributions is only if it is limited one year then you can carry over the addition contribution forward up to 5 years.
If you make a very large charitable donation in a single year, you may not be able to deduct all of your donation in that year. The IRS limits the amount of deduction you can take to a percentage (50% for non-cash, or 60% of cash contributions) of your adjusted gross income (AGI). If this happens to you, you can deduct the remainder of your donation in subsequent years. This is called a charitable contribution carryover and it becomes an itemized deduction on Schedule A
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
TheSchulteMeistr
Returning Member
asm_ahsan
Level 2
sutherlandws
Returning Member
emily50
New Member
pamhighnoon2
New Member