Question

Hey I took a break but I’m back to finish my taxes. I’m not familiar with charitable carryover donations and I been donating for years now. charitable carryovers?

Forum|Forum|1 year ago
March 2, 2025
1 reply
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Also is consolidated 1099 the same as 1099 misc?

If you had any unused charitable carryovers on last year's return, and you transferred that return information over to this year's TurboTax, you don't have to do anything. It'll be entered by TurboTax for you.

In general, you can carry over your charitable contributions that you can not deduct in the current tax year because they have exceeded your adjusted-gross-income limits. You will be able to deduct the excess charitable contribution carry over in each of the next 5 years until it is all used, but not to exceed five years.

Your deduction for charitable contributions generally can't be more than 60% of your AGI.

A consolidated Form 1099 is not the same as a Form1099-MISC.

A consolidated Form 1099 combines multiple separate 1099 forms into one tax reporting document. On a consolidated Form 1099 you may see tax forms such as a 1099-B, 1099-DIV, 1099-INT, 1099-MISC, and 1099-OID.

A consolidated 1099 tax form will show all of your income and transactions for the respective tax year.

Click here for "What is a 1099 consolidated tax statement?"

Click here for "How do I enter a charitable carryover?"

Click here for "Publication 526 (2024), Charitable Contributions"

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R

roodyplaisimeAuthor

Is it alright if I just left carryovers blank sense I cant figure out how to find that. And for 1099 misc if I don’t receive that than that mean I don’t have form 1099 misc?

IsabellaG

Unless you have some reason to believe that you have a charitable contribution carryover (you can look at last year's tax return and see if it contains a Federal Carryover Worksheet) then it's fine to leave carryovers blank. As LindaS5247 stated, if you used TurboTax to prepare your prior year returns, any carryover would come forward automatically. If you didn't receive a 1099-MISC, it's likely that you didn't receive any income that would require this form. If you received a Consolidated 1099, different categories of income will be spelled out on that form.

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