linha26[at]juno.com (Linh) wrote:

- quote -

It has to be deducted in the year donated. Sorry.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

- quote -

No.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

linha26[at]juno.com (Linh) wrote:

- quote -

Not a deduction this year. You can only deduct that
donation in the year you give it.

bex

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

Linh asked:

- quote -

No. A charitable deduction is only possible for the year in
which it was donated (Carryovers are possible only if you
itemized and the gift was so large that you had excess
contributions -- usually more than 50% of your income -- and
then must be used the next year, with an absolute limit of 5
years to use the carryover).

Bill

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

- quote -

No.

Helen, EA in PA
Member of The Tax Gang
Director, National Assoication of Enrolled Agents
Immediate Past President, PA Society of Enrolled Agents

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

- quote -

Only if "this year" is 1998.

Carol
What can one expect of a day that begins with getting out of bed.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

Linh wrote:

- quote -

No, not necessary, and no.

In short, each year stands on it's own. 1998 is loooong gone.

cheer$,
Harlan Lunsford, EA n LA

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

linha26[at]juno.com (Linh) writes:

- quote -

No.

You could either deduct it on your 1998 return or
not at all.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

Linh <linha26[at]juno.com> wrote:

- quote -

No. The charitable gift can be deducted only in the year you
made the gift.

(If you had given so much you had to carry forward some of
the gift, that's a whole other situation, but does not apply
here.)

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

linha26[at]juno.com (Linh) writes:

- quote -

No.

Phil Marti
Topeka, KS

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

linha26[at]juno.com (Linh) wrote:

- quote -

No.

--
D.F. Manno
dommanno[at]netscape.net
"They that can give up essential liberty to obtain a little
temporary safety deserve neither liberty nor safety."
(Benjamin Franklin)

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

linha26[at]juno.com (Linh) writes:

- quote -

No.

As is currently being discussed in another thread, you're
thinking about it the wrong way. It's not that you didn't
"meet [the] standard deduction," it's that you were
fortunate enough to get a "free deduction" bigger than you
would have gotten if you'd itemized.

For more about this, go read article in this newsgroup by
Harlan Lunsford with the Subject line "Re: Charitable donation
- when is it really deductible?"

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

linha26[at]juno.com (Linh) writes:

- quote -

TOO LATE!!=(:

"Jack" - John H. Fisher - TaxService[at]aol.com
Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ
My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html

Where Ignorance is bliss, 'tis folly to be wise!=

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

I donated a car in 1998 but have not been able to deduct it
because I did not meet standard deduction. This year I am
itemizing, so can I deduct it now?

If I can, how do I figure out the fair market value? When I
donated it I recieved a letter from the organization stating
how much it was worth. Am I able to use that?

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->