Doris donated a diamond brooch recently appraised at $25,000 to her local church. Doris had purchased it many years ago for $10,000. The church sold the brooch to provide funding for church programming. Doris' AGI is $40,000. Doris will be able to take a charitable deduction of
A) $10,000.
B) $12,000.
C) $25,000.
D) $20,000.
Correct Answer:
Verified
Q72: A taxpayer has made substantial donations of
Q76: Charitable contributions made to individuals are deductible
Q101: Ivan's AGI is about $100,000 this year,and
Q341: Carl purchased a machine for use in
Q342: Clayton contributes land to the American Red
Q343: During February and March, Jade spends approximately
Q345: Erin's records reflect the following information: 1.
Q346: Hugh contributes a painting to a local
Q347: Jorge contributes $35,000 to his church and
Q349: May an individual deduct a charitable contribution
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