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RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I have never itemized before and i was told i could use 2007

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I have never itemized before and i was told i could use 2007 itemizations as long as i did not itemize last year, along with 2008 this year so i would have enough to itemize? I was wanting to make sure this is correct before i do my taxes.Virginia

You cannot claim the itemized deductions related to 2007 on your 2008 tax return. Deductions for 2008 can only be claimed on itemized schedule for 2008.

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

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Customer: replied 8 years ago.
Good morning. The only reason i asked this question is because an accountant in our area told us since we have never itemized before we could use 2007 itemizations only, also on our return this year. That is the only reason i asked because i was going to do my return and save the money we were going to pay him to do our taxes but i guess we will let him handle our taxes this year. Thank you

Unfortunately this is not allowed since you have taken standard deduction instead of itemized deduction in 2007. You cannot carry forward itemized deduction.

 

 

Let me know if you have any question.

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.