I donated more than 30% of my AGI of appreciated stock to a Donor Advised Fund in 2020. I understand the excess will carry over for 5 more years. If I don't have enough other deductions to itemize next year and take the standard deduction for 2021, will I be unable to deduct any of my charitable carryover for that year? And if not, will the charitable carryover continue to carryover until I am able to itemize within the next 5 years?
You will have up to 5 years to use it starting next year.
You can't skip a year, every year will count as one of the five whether you are able to use and of the carry-forward or not.
Thanks for the response. I'm going to reword my question to get more at what I was wondering:
I donated more than 30% of my AGI of appreciated stock to the Donor Advised Fund in 2020. I understand the excess will carry over for 5 more years. If I don't have enough other deductions to itemize in 2021 and take the standard deduction, will it still carryover into the following years within the range until I can itemize OR, since I used the standard deduction the in 2021 I won't be able to carry anything over to 2022 when I might be able to itemize?
it depends and this is a very good question. According to this IRS link, A carryover of a qualified conservation contribution can be carried forward for 15 years. It does not specify that you will lose the carryover if you switch to a standard deduction and then itemize the following year. The only stipulation is that you can use it within the 15-year period.