Charitable Contributions - Carryover Schedule Worksheet

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This tax worksheet tracks the use of charitable contribution carryforwards and carryovers in accordance with the various AGI limitations. A taxpayer can carry over contributions that they cannot deduct in the current year due to adjusted-gross-income limits. A taxpayer may be able to deduct the excess in each of the next 5 years until it is used up, but not beyond that time. A taxpayer's total charitable deduction for the year to which a taxpayer carries contributions cannot exceed 50% of adjusted gross income for that year.

Contributions a taxpayer carries over are subject to the same percentage limits in the year to which they are carried. For example, contributions subject to the 20% limit in the year in which they are made are 20% limit contributions in the year to which they are carried.

For each category of contributions, a taxpayer can deduct carryover contributions only after deducting all allowable contributions in that category for the current year. If a taxpayer has carryovers from 2 or more prior years, use the carryover from the earlier year first.

See Publication 526 for further details. See the Charitable Contributions client handout to inform clients of future tax implications.

Footnote

The AGI limitations are applied in the following order:

  1. Contributions of cash and non-LTCG property to 50% charities.
  2. Contributions of noncapital gain property to non-50% charities, to the extent of the lesser of:
    • 30% of AGI, or
    • 50% of AGI reduced by all contributions to 50% charities (i.e., reduced by regular 50% contributions plus the full value of any LTCG property donated to 50% charities).
  3. Contributions of capital gain property to 50% charities, up to 30% of AGI.
  4. Contributions of capital gain property to non-50% charities, to the extent of the lesser of:
    • 20% of AGI,
    • 30% of AGI less contributions subject to the 30% limit,
    • 30% of AGI less contributions of capital gain property to 50% charities, or
    • 50% of AGI less the total of contributions to 50% limit organizations and contributions subject to the 30% limit.

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