OK, last year, I had over $1,000 in church tithes. I gave it to the woman who did my taxes for last year, and she said the amount had to be $5,000 or more to be counted. My question is, can I count that money from last year toward this year's taxes, if I do them myself over the Internet?
I don't want to get audited or get arrested over this, I'd just like to know. Thank you.
2006-10-26 14:13:36 · 8 answers · asked by kellygirlaj 4 in Business & Finance ➔ Taxes ➔ United States
I realize I made a mistake when clarifying what "it" was. I didn't give the tax preparer the money, I gave her the papers to prepare.
2006-10-27 14:23:09 · update #1
No, it has to be for that year only. If you're itemizing which i assume you are, the deductions have to me more than your standard deduction in order to be able to file that way. For example lets say the standard deduction is $5000 then you would have to have more than the $5000 in deductions in order to file that way.
2006-10-26 14:21:29 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You have a choice of using Itemized or Standard deduction to calculate you taxes. If you were single last year your standard deduction was $5,000. If the total of your itemized deduction including the $1,000 you gave to the church did not exceed the $5,000 standard deduction the wise choice is to use the standard deduction. This sounds like what your preparer meant to say but she did not explain it well. If your itemized deductions did exceed the $5,000 or you choose to use the smaller itemized deduction you may file an amendment to include the $1,000 contribution to the church. An amendment (Form 1040X)can be filed up to three years after the due date of your return. You can not use the standard deduction and add on the $1,000 contribution as a deduction.
2006-10-27 02:15:29 · answer #2 · answered by ? 6 · 0⤊ 0⤋
By the above information I see you were single and filed with no dependants. As single you are automatically granted a $ 5,000.00 exemption amount. Therefore a thousand in tithes is a much smaller exemption amount so it behooves you to take the standard of 5k. In 2006 the standard amount for single is $ 5,100.00. Each tax year is inclusive so you can't carry forward 05 tithes and take them in 06; there is an exception to this rule but it means that you paid over 30% of your income in charitable contributions and can carry the excess forward; this is usually something that happens with people who make a heck of a lot more money than you and I.
2006-10-27 10:14:43 · answer #3 · answered by acmeraven 7 · 0⤊ 0⤋
The most likely additional deduction to combine with your charity is the amounts withheld on your paycheck for state tax to see if it adds up to 5000. There are also whole list of itemized deductions to check to see if any can be applied to you.
If not enough to make 5000, then you should just stick with the standard deduction.
2006-10-27 11:19:40 · answer #4 · answered by goldenboyblue 3 · 0⤊ 0⤋
Most previous posters have it right on the federal level. Bear in mind that some states allow you a charitable deduction even if you don't itemize. make sure you get that if you are entitled.
2006-10-27 12:50:25 · answer #5 · answered by skip 6 · 0⤊ 0⤋
If you itemized your deductions last year, the $1,000 was a deductible expense. You should amend last year's return to include it.
2006-10-26 21:56:59 · answer #6 · answered by Jonesy 1 · 0⤊ 2⤋
Why would you give it to the woman who does your taxes? She isn't the Church.
2006-10-26 21:45:55 · answer #7 · answered by jaded2809 2 · 0⤊ 2⤋
No.
2006-10-26 21:43:53 · answer #8 · answered by rockEsquirrel 5 · 0⤊ 0⤋