Skip to main content
Level 2
October 25, 2023
Question

Donation limits for itemized deductions

  • October 25, 2023
  • 1 reply
  • 5 views

My husband died last August.  I have to file single this year.  We have a big house to downsize.  Have been giving to Goodwill, veterans organizations, Salvation Army, Church and Church school.

I know there is a percentage of AGI that applies to amount I can deduct which I will not know until my 1099’s start coming in.  I read somewhere that if you had more than was allowable by percentage then  there can be a carryover for the following year.  Is that so?

 

Thanks, SDC13

1 reply

John-H2021
Level 6
October 25, 2023

Hello SDC13,

Yes the excess will carryover and you will have 5 years to use it all.

 

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
SDC13Author
Level 2
October 25, 2023

Thanks,  your answer helped downsize my worry list!