I am itemizing deductions this year, however last year I was unable to do so because I did not have enough deductions outside of the standard deductions that I had. My question is I see that I can carry over charitable donations from 2006 onto my 2007 tax return, donations like to my church, and or charitable organizations like Goodwill, Salvations Army. Any expert in this field that can clarify this, I would appreciate it!
You can only carry over charitable deductions if you itemized the previous year but donated over the limit for deducting in one year, then you carry over the excess. So no, you can’t take your 2006 contributions on this year’s return.
February 20th, 2010 at 2:50 am
Charitable contributions are generally only deductible in the year they are paid. Contributions can only be carried over when they are limited in a previous year by your adjusted gross income. If you did not itemize last year, you will not have a carry-over to this year.
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February 20th, 2010 at 3:14 am
No. 2006 contributions stay in 2006. If you took standard deduction, that is the way it is.
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February 20th, 2010 at 3:19 am
No, you cannot carryover charitable contributions unless your deductions were limited because you made TOO much money and you had TOO many donations. (See, sometimes the wealthy get screwed) Otherwise, you can only claim the charitable deduction in the year that it was made. You cannot combine two years in one And the IRS has really tightened up on this folks, you MUST have receipts for charitable deductions cash or non-cash donations now. Even clothing that you dontate to the Goodwill must be listed seperately now with a value placed on them. (By the way, the IRS says that you cannot donate old socks anymore)Dropping cash or coins in the Salvation Army bucket at Christmas is non-deductible now. You need a reciept. The money you tithe, write a check instead of putting cash in the collection box. You NEED a RECEIPT.
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February 20th, 2010 at 3:48 am
Call your local H&R block. They should be able to give you the correct answer, or any reputable tax preparer.
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February 20th, 2010 at 4:33 am
You can only carry over charitable deductions if you itemized the previous year but donated over the limit for deducting in one year, then you carry over the excess. So no, you can’t take your 2006 contributions on this year’s return.
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