Moesha paid $60 for Girl Scout cookies and $50 for Cub Scout cracker jacks.Moesha may claim the full $110 as a charitable contribution deduction.

Question

Quizplus · Accepted Answer

The IRS generally allows deductions for charitable contributions, but the amount paid for items like cookies or cracker jacks, where the buyer receives a product in return, is not fully deductible. Only the amount that exceeds the fair market value of the goods received can be considered a charitable contribution.

Moesha Paid $60 for Girl Scout Cookies and $50 for Cub