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Itemized Deductions Schedule-A


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Old 07-09-2008, 11:42 AM
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What happens when the taxpayer's contribution exceeds the allowable limits?

I have exceeded the contribution limits, does this mean I cannot take any further deductions?

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Old 07-14-2008, 11:45 AM
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The excess contributions are carried over to following years and would be again subject to allowable limits as discussed earlier, that is the 50% or 30% of the AGI limit depending on the type of the donation and the nature of the non-profit organization.


Please also refer to the following articles that provide a further discussion on the allowable AGI limits.

Which Organizations qualify for the 50% Limit on AGI?

Which Organizations qualify for the 30% Limit on AGI?

What is the Special 30% Limit for Capital Gain Property made to 50% Limit Org's?.

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Last edited by TaxGuru : 07-14-2008 at 11:48 AM.


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