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Author: DaveParker Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121592  
Subject: Schedule A Deduction Limitations Date: 3/9/1998 11:02 AM
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I've been reviewing my returns...and I'll certainly be calling my EA when his office opens...but I'd appreciate Roy or Kat's input on this...

My schedule A deductions were reduced (line 28) by $14,039 due to income level. This irks me...but I see that we carried over $11,783 in charitable from 1996. Is it permitted to not use the carryover this year (it is worthless with the limitation), but to carry it over to 1998 instead?

Yeah, I'm grasping...but I hate to lose that much benefit. Your help, as always, is very much appreciated.

David

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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2529 of 121592
Subject: Re: Schedule A Deduction Limitations Date: 3/9/1998 11:22 AM
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[[My schedule A deductions were reduced (line 28) by $14,039 due to income level. This irks
me...but I see that we carried over $11,783 in charitable from 1996. Is it permitted to not use the
carryover this year (it is worthless with the limitation), but to carry it over to 1998 instead?]]

Without knowing more about your return, it is impossible to help you with this question. But, first of all, if you have carryover charitable contributions, they must be used up in the next available year. So if you had excess contributions in 1996, which were carried over to 1997, you really have no choice in the matter. You can't "bypass" 1997 with these charity carryovers.

TMF Taxes
Roy



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