Discussion:1040A carryover contributions
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Discussion Forum Index --> Tax Questions --> 1040A carryover contributions
| 5 February 2008 | |
| I have a client that filed 1040A for 2005 and 2006. Her income was low so she did not need to file a 1040. She had more than 50% of income in contributions in 05 and 06. The tax program is using these carryovers from 05 and 06 on her 07 return even though she did not file a schedule A for 05 or 06. Her income was greater in 07 due to a land sale so she need to itemize for 07.
Can she use these carryovers? Pub 526, page 17 states that there are special rules for carryovers when you claim the standard deduction. | |
| 5 February 2008 | |
| If there are special rules the Pub should reference the location of the special rules. taxea | |
Death&Taxes (talk|edits) said: | 5 February 2008 |
| Beleive it or not, it says because this happens so infrequently you should consult a tax practitioner if you run into this!!!! One of the 'lovely' features of IRS Publications is that they do not give footnotes.
In RIA's Federal Tax Handbook it refers us to Reg. 1.170A-10(a)(2) where you will find just what you need. When I read Publication 526 I thought that the mechanics of the tables above Page 17 would have allowed the carryover since it is based on determining 1. Type of charitable organization, and then, 2. Percentage of AGI. | |
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