Deductions for charitable contributions that a taxpayer has carried over from a previous year. Taxpayers are allowed to deduct no more than a certain percentage of their adjusted gross income for charitable contributions. However, a taxpayer can carry over amounts that exceed the limit to the following years. Contributions can be carried over for no longer than five years.
Related information about charitable contribution carryovers:
- What is charitable contribution carryovers? definition and meaning
Definition of charitable contribution carryovers: Deductions for charitable contributions that a taxpayer has carried over from a previous year. Taxpayers are ...
- Charitable contribution carryovers in certain acquisitions.
Apr 1, 2012 ... (b) Manner of computing excess charitable contribution carryovers. (1) The amount of any charitable contribution made by a distributor or ...
- 201226021 - Internal Revenue Service
Jun 29, 2012 ... allowed as charitable contribution carryovers, the deductions may produce a double tax benefit first by reducing the amount of NOL carryover ...
- § 1.381(c)(19)-1 Charitable contribution carryovers in certain - Justia
(b) Manner of computing excess charitable contribution carryovers. (1) The amount of any charitable contribution made by a distributor or transferor corporation ...
- tax carryovers - American Academy of Matrimonial Lawyers
choose to ignore the possible value inherent in capital loss carry- overs, charitable contribution carryovers, and passive loss carry- overs due to complications in ...
- Death of a Loved One | Shaneybrook & Associates, Inc.
Charitable Contributions - As noted previously, charitable contribution carryovers are lost if not used on the final return. The fair market value of property of an ...
- 26 CFR 1.1502-24 - Consolidated charitable contributions deduction ...
The consolidated charitable contribution carryovers to any consolidated return year shall consist of any excess consolidated charitable contributions of the group ...
- Chapter 4 Notes
NOL carryovers, charitable contribution carryovers, and capital loss carryovers that reduce TI for the current year. These losses or excess deductions reduce ...