Vinny's AGI is $250,000.He contributed $200,000 in cash to the Boy Scouts,a public charity.What is Vinny's charitable contribution deduction for AMT purposes?
A)$0
B)$50,000
C)$75,000
D)$125,000
E)None of the above

Question

Quizplus · Accepted Answer

For AMT purposes, the charitable contribution deduction is limited to 50% of the AGI for cash contributions to public charities. Therefore, Vinny's deduction is 50% of $250,000, which is $125,000.

Vinny's AGI Is $250,000