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Charitable Donation Deductions

I will not be itemizing my deductions until 2021.  Should I wait until that year before I donate things I now have?

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4 Replies

Charitable Donation Deductions

Good idea to bunch deductions as you are suggesting.

Charitable Donation Deductions

Yes, wait if you want any chance of taking a deduction.

Charitable Donation Deductions

Hi-and thanks for the replies.  I think what I am trying to find out is if I get a statement giving me the total worth of things donated, say in the current year, and I don's use any portion of it for this year as I do not need the deduction, can I carry over the deduction to use in 2 years when my income will be more and I will itemize?  The things I plan to donate are brand new clothing articles and unused household items currently being stored in boxes and if I can donate them now vs. storing them i will, but not if I loose a future deduction.  Thanks.

Charitable Donation Deductions

You can only deduct donations in the tax year that you actually donated them.
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