Grace has AGI of $60,000 in 2018 and 2019. She makes cash contributions to public charities of $40,000 in 2018 and $37,000 in 2019. Grace's charitable contribution carryover to 2020 is

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In 2018, Grace can deduct up to 60% of her AGI ($36,000) for charitable contributions, leaving a carryover of $4,000 ($40,000 - $36,000). In 2019, she can again deduct up to 60% of her AGI ($36,000), using $36,000 of her $37,000 contribution, leaving a $1,000 carryover. The total carryover to 2020 is $5,000 ($4,000 from 2018 + $1,000 from 2019).

Grace Has AGI of $60,000 in 2018 and 2019