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Ls there a limit for donations to charity. I have donations…

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Ls there a limit...

Ls there a limit for donations to charity

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

I have donations receipts give to the Goodwill, but they are to many donations, can I save the receipts for next year taxes?

Accountant's Assistant: Is there anything else important you think the Accountant should know?

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Submitted: 4 months ago.Category: Tax
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3/16/2018
Tax Professional: Robin D., Senior Tax Advisor 4 replied 4 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,196
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 4 months ago

You cannot report the receipts for 2017 on your 2018 tax return. You need to report all now and you may be allowed to carry over the remaining if you go over.

Your deduction for charitable contributions generally can't be more than 50% of your adjusted gross income (AGI), but in some cases 20% and 30% limits may apply. In addition, the total of your charitable contributions deduction and certain other itemized deductions may be limited.

The 50% limit applies to the total of all charitable contributions you make during the year. This means that your deduction for charitable contributions can't be more than 50% of your adjusted gross income for the year.( Like goodwill)

You can carry over any contributions you can't deduct in the current year because they exceed your adjusted-gross-income limits.

Please let me know if you need more information.
If not then please scroll up to see the STARS to rate so I am credited.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago

Just checking

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