J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax Return

14.18 Carryover for Excess Donations

If you make donations that are not deductible because they exceed the 50%, 30%, or 20% of adjusted gross income ceilings (14.17), you may carry the excess over the next five years. A special 15-year carryforward for donations of qualified conservation contributions made in 2006-2011 and subject to the special 50% and 100% of adjusted gross income ceilings (14.17) may be extended to 2012 by Congress; see the e-Supplement at jklasser.com for a legislation update.

In each carryover year, the original percentage ceiling applies. For example, where contributions of appreciated long-term intangible personal property or real estate (or tangible personal property put to a related use by the charity) exceed the 30% ceiling for capital gain property (14.17), the excess remains subject to the 30% ceiling in the carryover years.

In any carryover year, you must first figure your deduction for contributions in the current year under the applicable 50%, 30%, or 20% ceilings. For each category of property carried over, the carryover contributions are deductible only after the deduction for current year donations is figured. The total deduction in the carryover year, for both current year and carryover contributions, cannot exceed 50% of adjusted gross income for the carryover year.

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