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barnes
New Member

Can itemized deductions that exceed income in a particular year be carried forward?

my itemized deductions are high for 2015 because I paid for health insurance premiums out of pocket.
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1 Reply
DDollar
Expert Alumni

Can itemized deductions that exceed income in a particular year be carried forward?

With a few exceptions - no.  You cannot carry forward most itemized deductions.  You can carry forward charitable contributions that exceed 50% of your AGI, Investment Interest, and in some cases points paid to obtain a mortgage.  Unfortunately you can't carry forward medical expenses, mortgage interest, property taxes, etc.

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