Erin's records reflect the following information: 1.Paid $200 dues to a fraternal organization (such as the Elks Club).
2)Donated stock having a fair market value of $3,500 to a qualified charitable organization.She purchased the stock 2 years earlier for $3,000.
3)Paid $1,600 cash to qualified public charitable organizations.
Erin's adjusted gross income for this year was $50,000.What is the amount of her charitable contribution deduction for the year?
A)$4,600
B)$4,800
C)$5,100
D)$5,300

Question

Quizplus · Accepted Answer

The Answer of Erin's records reflect the following information: 1.Paid $200 dues to a fraternal organization (such as the Elks Club).
2)Donated stock having a fair market value of $3,500 to a qualified charitable organization.She purchased the stock 2 years earlier for $3,000.
3)Paid $1,600 cash to qualified public charitable organizations.
Erin's adjusted gross income for this year was $50,000.What is the amount of her charitable contribution deduction for the year?
A)$4,600
B)$4,800
C)$5,100
D)$5,300

Erin's Records Reflect the Following Information: 1