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Level 2
June 18, 2019
Question

Charitable Donation Deductions

  • June 18, 2019
  • 4 replies
  • 40 views

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

    4 replies

    Level 15
    June 18, 2019
    Good idea to bunch deductions as you are suggesting.
    Rainman12
    Alumni - Champ
    Alumni - Champ
    June 18, 2019

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

    Level 2
    June 18, 2019

    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.

    Level 15
    June 18, 2019
    You can only deduct donations in the tax year that you actually donated them.