Don's records contain the following information: 1.Donated stock having a fair market value of $3,600 to a qualified charitable organization.He acquired the stock five months previously at a cost of $2,400.
2) Paid $700 to a church school as a requirement for the enrollment of his daughter.
3) Paid $200 for annual homeowner's association dues.
4) Drove 400 miles in his personal auto.The travel was directly related to volunteer services he performed for his church.
How much can Don deduct as a charitable contribution?
A) $2,456
B) $3,156
C) $3,356
D) $3,656
Correct Answer:
Verified
Q88: Viviana is an owner of a business
Q89: The qualified business income deduction is only
Q90: Sacha purchased land in 2010 for $35,000
Q91: Corporate charitable deductions are limited to 10%
Q92: Erin's records reflect the following information: 1.Paid
Q94: Raj is a 50% shareholder in an
Q95: Doris donated a diamond brooch recently appraised
Q96: Grace has AGI of $60,000 in 2019
Q97: All casualty loss deductions,regardless of the type
Q98: Carl purchased a machine for use in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents