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You may carry-over only that portion of the credit that you do not apply to tax. You cannot carry-over any amount that you gave that was more than the amount allowed as a credit. For example: During 2005, Mary, a single person, gave $700 to a school tuition organization. For 2005, Mary is allowed a credit of $500. Mary's 2005 tax is $400. Mary may carry-over $100 of the unused $500 credit to 2006. Mary cannot claim any credit for the $200 gift that was more than the allowable credit ($700 minus allowable credit of $500).
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