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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 20
Tom made charitable contributions to his church in the current year. He donated common stock valued at $33,000 (acquired as an investment in 1997 for $14,000). Tom's AGI in the current year is $75,000. What is his allowable charitable contribution deduction? How are any excess amounts treated?
Explanation
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Charitable contribution deduction is an ...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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