Question

Check Not Cashed Timely

Forum|Forum|2 years ago
February 23, 2024
3 replies
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I hand delivered a check in the amount of $100.00 for my church's fundraiser. It was dated September 24, 2023. It did not get deposited. The check was ultimately found stuck between someone's desk and the wall on January 29, 2024. I told the charity to go ahead and deposit the check. It finally got deposited on February 21, 2024. I just mailed my 1040 tax return on February 21, 2024. Can I take this as a deduction for 2024? If so, I will ask the charity to add it to my 2024 contributions. Please advise. This has been frustrating to say the least. I do not want to file an amended return.

Not A Product Question

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DavidD66

Yes, if it wasn't included in your 2023 donations. Just have the church included it with your 2024 donations and annual receipt.

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Patty534Author

Thanks very much for your response. I will contact them and ask them to put this on my 2024 year-end tax statement.

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Patty534Author

This check was one month away from being a stale check. What if the check was never found? I did not (and do not) want to file a Form 1040X for 2023.

I received a phone call from my church yesterday, and they agreed to mark this check as being received on 1-1-2024 to apply it to my 2024 tax contributions statement.

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AmeliesUncle

You paid it in 2023, so it goes on your 2023 tax return. When they cash the check doesn't change that.

VolvoGirl

Employee

It may not matter to enter it. Do you have enough deductions to itemize? All your itemized deductions have to be more than the standard deduction to get any benefit (so you would only be getting the benefit of the amount that puts you over the standard deduction). And since the Standard Deduction is increased more people will not need to Itemize. And several deductions are limited like Medical and State taxes paid.

For 2023 the standard deduction amounts are:

Single 13,850 + 1,850 for 65 and over or blind (15,700)

HOH 20,800 + 1,850 for 65 and over or blind (22,650)

Joint 27,700 + 1,500 for each 65 and over or blind (29,200/30,700)

Married filing Separate 13,850 + 1,500 for 65 and over or blind (15,350)