Ignacio and Perla are married and both are government employees.They contribute money to various organizations each year and file a joint return.Their adjusted gross income for 2017 is $100,000.They contributed to the following organizations in 2017: -$3,500 to the World Wildlife Foundation
-$10,000 to the Salvation Army
-$2,000 to a local city council candidate
-$11,000 to a breast cancer research hospital
-Donated clothing to Goodwill.(Ignacio purchased the items for $375,but the thrift shop value of the same items at a local second-hand store is equal to $60. )
How much can Ignacio and Perla deduct as charitable contributions for the year 2017?
A)$26,560.
B)$26,500.
C)$25,710.
D)$24,560.

Question

Quizplus · Accepted Answer

Ignacio and Perla can deduct contributions to qualified organizations. The contributions to the World Wildlife Foundation ($3,500), the Salvation Army ($10,000), and the breast cancer research hospital ($11,000) are deductible. The donation to the local city council candidate is not deductible. The clothing donation to Goodwill is deductible at its thrift shop value ($60). Therefore, the total deductible amount is $3,500 + $10,000 + $11,000 + $60 = $24,560.

Ignacio and Perla Are Married and Both Are Government Employees