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Submitted By: someone
Answered: April 7, 2017 8:36 am
Answered: April 7, 2017 8:36 am
I made charitable contributions in 2016 but I’m claiming the standard deduction. Can I carry over the unused deduction for these contributions to 2017?
No. Opting to claim the standard deduction is in lieu of any itemized deductions. The five-year carryover for charitable contributions applies only to amounts that were claimed as itemized deductions but were in excess of adjusted-gross-income limits.
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Tax Glossary
High deductible health plan (HDHP)
For 2007, a high deductible health plan is a health plan with an annual deductible that is not less than $1,100 for self-only coverage or $2,200 for family coverage, and with annual out-of-pocket expenses that do not exceed $5,600 or $11,200, respectively.
