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Submitted By: someone
Answered: May 21, 2018 11:15 pm
Answered: May 21, 2018 11:15 pm
In 2017 I had substantial medical expenses and large charitable contributions. Can I save part of my itemized deductions from 2017 and report them on my 2018 return?
No. Deductions usually must be claimed for the year in which they were paid. There’s no provision in the tax law allowing a person to “save” deductions and use them in a subsequent year.
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Tax Glossary
Trust
An arrangement under which one person transfers legal ownership of assets to another person or corporation (the trustee) for the benefit of one or more third persons (beneficiaries).
