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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 47722
Experience:  Taxes, Immigration, Labor Relations
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My itemized deductions are more than the standard deduction

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My itemized deductions are more than the standard deduction but I still get back the same amount, should I itemize and can I carryover the deductions into next year?
JA: What expenses are you planning on deducting?
Customer: property tax, home interest, charitable deductions, and medical
JA: Which state are you in? Any sales tax or income tax deductions?
Customer: Tennessee and no to sales tax or income tax
JA: Is there anything else you want the Accountant to know before I connect you?
Customer: that should handle it, thank you

You may ONLY carryover some deductions into next year which you are not allowed to use.

For instance - if you make large charitable contributions and may only use a part of that amount - unused part may be carryover into next tax year.

But you may not carryover the deductions just because you do not benefit from these deductions.

Sorry if you expected differently.

Customer: replied 16 days ago.
do I itemize them or do I just itemize them next year? ex. I have 20.000.00 in deductions and the standard deduction is 13800.00 do I itemize them this year the difference being rolled into next year, do I leave them off and report them next year or do I just go with the standard and lose them.
Customer: replied 16 days ago.
How so I cancel my free trial?

You may not choose to report deduction this year or next year.

But you may only report in the year deductible expenses were actually paid.

However - to be specific - you will need to list your deductions and I will verify for you.

Customer: replied 16 days ago.
property taxes $ 1,722.00, Church tithe and food pantry $ 4,671.00, AIDS Walk, $ 25.00, Medical $ 6,232.00, mortgage interest $ 5,191 are my deductions

property taxes $ 1,722.00 - may be ONLY deducted for tax year in which they are paid.

Church tithe and food pantry $ 4,671.00, AIDS Walk, $ 25.00, - these are charitable contribution - you may carry to the following year ONLy charitable contributions above 60% of your AGI (adjusted gross income) - the rest may be only deducted in the year paid.

Medical $ 6,232.00, - may be ONLY deducted for tax year in which they are paid.

mortgage interest $ 5,191 - may be ONLY deducted for tax year in which they are paid.

Let me know if any clarification needed.

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