carryovers for donations

Forum|Forum|1 year ago
April 18, 2024
2 replies
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Can I skip this for now? it will take a lot of research to find these figures and I'd like to finish for now and enter next year instead. Can I just delete the amount that TT entered and go on? Thanks.

TurboTax Home & Biz Windows

Best answer by Mike9241

if you don't enter your 2023 contributions along with any 2022 carryover, you'll lose some or all of any c/o to 2024. then you'll have to amend 2023 which can hold up any refund due for 2024 for many months.

SteamTrain

Employee

@kare2k13

No, you must attempt to use them this year, along with all your other Charity contributions...and then only the amount that is not used this year will be allowed to be carried to next year.

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IF you used TTX last year, it does not normally take a lot of work to find the carryover amount, as long as you tried to use your contributions on last year's tax return.

Simply open your 2022 tax file, change to Forms Mode, and then look for the "Charity Contrib" form in the left-side list of forms and open that. The Carryover amounts from 2022--to-2023 are in Part III of that form, on line 6

IF you want to see how the carryover from 2022 to 2023 was calculated look at the "Charity Limit 1" form just above it.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

kare2k13Author

Employee

Thanks, but TT wants carryover info back to 2018, so I guess I have to dig out all of those filings, correct?

SteamTrain

Employee

Well, if you've been doing it every year, then each successive year's carryover (if any ) shows on that Forms Mode "Charity Contrib" form in your 2022 file.

Of course....assuming you used the TTX software every year since then, and transferred in each year's file from the prior year without a break.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*