Carlos, a self-employed construction contractor, contributed $5,000 to the re-election campaign of the local mayor in the hopes that his planned construction project will be approved.How much is Carlos's deduction for this political contribution?
A)$0
B)$25
C)$2,500
D)$5,000

Question

Quizplus · Accepted Answer

Political contributions, including those to local mayoral campaigns, are not deductible for tax purposes.

Carlos, a Self-Employed Construction Contractor, Contributed $5,000 to the Re-Election