- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
Topics:
posted
June 7, 2019
5:17 PM
last updated
June 07, 2019
5:17 PM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 7, 2019
5:18 PM
4 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 7, 2019
5:17 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 7, 2019
5:18 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 7, 2019
5:18 PM
Anonymous
Not applicable
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 7, 2019
5:18 PM
Still have questions?
Make a post