Saturday, October 24, 2009

Can I still make a charitable donation between now and April and receive a tax credit for 2007?

No. You can still make a 2007 IRA or Roth IRA contribution before normal April filing date. But expenses and deductions for other things are usually based the the tax year they are 'paid' (too late for 2007 taxes).

Can I still make a charitable donation between now and April and receive a tax credit for 2007?
No way. Only donations made in 2007 are deductible on your 2007 return. Any donation you made since Jan 1, 2008 goes on your 2008 return next year.
Reply:uh no.
Reply:No, you would have had to make it by December 31st of the previous year. If you were to make a donation now, you would gat a refund for it next April.
Reply:No
Reply:no that year has pass


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