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Level 1
June 1, 2019
Question

Charitable contribution carryover

  • June 1, 2019
  • 1 reply
  • 11 views

If I have charitable contributions entered in my 2018 1040 Tax Form but my total itemizations are less than my Standard Tax Deduction, will the charitable contribution amount carryover to next year?  And if not, should not enter them into the 2018 Tax Form but instead wait to enter them as carryover in the 2019 Tax Form?

1 reply

Level 11
June 1, 2019

No, they will not carry over.

If you're a cash basis taxpayer (as most of us are) then they're only allowable in the year you made them.  So if you made the contribution in 2018, you must take it in 2018.

The charitable carryover is for if you give more than 50% of your adjusted gross income (AGI), and in some cases 20% or 30%.