Solved: Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
Mr--Memo
New Member

Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?

I would rather claim less, and simplify the return.

1 Best answer

Accepted Solutions
Critter
Level 15

Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?

Sch A deductions are OPTIONAL not required  and you are not required to claim the entire amount if you don't want to do so. 

View solution in original post

4 Replies
SweetieJean
Level 15

Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?

However, if you need to provide a copy of your return to (say) a lender, they might question it.
Critter
Level 15

Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?

Sch A deductions are OPTIONAL not required  and you are not required to claim the entire amount if you don't want to do so. 

View solution in original post

SweetieJean
Level 15

Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?

OP also asked about foreign tax credit.
Anonymous
Not applicable

Do I need to claim the full value of a deduction or tax credit (such as a charitable donation or foreign tax credit), or can I claim less?

however, there was an interesting court case many years ago.  to avoid alternative minimum tax a couple under reported their deductible real estate taxes.  the court said ok for regular tax purposes but for AMT the full amount must be used. 

could never find out if there was an appeal and the decision reversed.  



 

Dynamic AdsDynamic Ads
v
Privacy Settings