Sonjay had AGI of $60,000 in 2017 and made several charitable contributions as follows: Land donated to county for new school: FMV = $30,000; basis = $20,000
Appraisal fee for the land: $2,500
Contributions to his church: $4,000
Contributions to the Red Cross: $1,000
What is the maximum charitable contribution deduction that Sonjay could claim in 2017?
A) $30,000
B) $27,500
C) $25,000
D) $24,000
Correct Answer:
Verified
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