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Visitor I

Charitable Contrib Carryovers

While using TT for 2016 return, in the step-by-step process mode and where it relates to Sch A, line 18, I failed to realize that what the line is calling for is CC's that were in excess of 50% of AGI in as many as all of the prior 5 years. I thought it was asking me for the actual CC's made in those years......which come to find out now after looking more closely, the two are way different things generally. And in my case they represented total value of overall contribution(s) that are worlds apart. And since 2016 was first year I had itemized since 2007 and I had just been working on Inv. Int. Exp. carryover I mis-interpreted what the step was actually calling for. So in the end, by putting in amts. that were the actual CCs from 2011-2015, I was essentially taking the position that I had not only given that much (16k) but also the total of 50% of AGI from 2011-2015 (a pretty significant amt although I wont post it herein)......a total of ALL combined amounts many times greater than just the 16K. After making the error and understanding why and quantifying exactly what the error said, was just curious if anyone else made same error?

 

And also, was thinking, it would have been extremely helpful if a quantitative sanity check had come up in the app showing me the total value of what it was that I was effectively saying I contributed to charity by making the entries I did (in this case a six figure amount that had I seen that I would have certainly then realized I had mis-intepreted what line 18 actually represents and is calling for). 

 

Would appreciate any thoughts or similar experiences.

 

best, 

chris g