$300 charitable contribution carryover?

[PATAX]

I'm preparing a return here and it appears there's a $300 net operating loss carryover from 2020. It appears this is the 2020 $300 charitable contribution deduction last year on line 10B. The client had 2020 AGI of 13,700 but had no taxable income. She is retired elderly Widow. This $300 loss is coming forward apparently to this year? Is this correct or is it a program error?. I am researching now but I can't find anything definitive on it... maybe I missed something .  Thanks for any help.

[TAXOH · Accepted solution]

I really the the answer is yes but if you want to research more:

https://giving.stanford.edu/stories/cares-act-and-charitable-contributions/

1. Individual taxpayers can continue to carry forward any excess charitable contributions for five years, but the enhanced 100 percent deduction limitation expires after 2021.

[PATAX]

Thanks taxoh, it must be yes because Pro Series automatically brought that $300 forward from last year to this year as an nol. I'm going to check some of my CPE material. Thanks

[TAXOH]

You're welcome.

[PATAX]

I have to work today because that ice storm knocked out my power and Heating for 2 days. As soon as the weather gets better I'm getting one of those natural gas backup generator systems. I'm not going through this crap again.

[TAXOH]

I know what you mean.  For me, it's a bit different than your situation since I'm in Ohio and you're in PA.  In normal years, before the years of starting tax season late, all the forms you need not being ready, we have normally had over 200 out of 600 of our clients had their taxes to us by February 6th.  That makes it frustrating for me, because I feel behind on taxes, but I'm really not.