Donation limits for itemized deductions

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

1084

Employee Tax Expert

Oct 25, 2023 10:36:34 AM

Hello SDC13,

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

Returning Member

Oct 25, 2023 12:17:57 PM

Thanks, your answer helped downsize my worry list!

Returning Member

Oct 25, 2023 12:27:51 PM

I sent a thank you and then your answer prompted another question. Do I list all my donations during this year (2023) and the excess will carry over or do I just deduct up to the allowed deduction limit based on AGI?

SDC13

Employee Tax Expert

Oct 25, 2023 12:29:43 PM

You would list all of them and the program will figure out the limit and the amount to carryover to next year.

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Donation limits for itemized deductions