Grace has AGI of $60,000 in 2012 and 2013.She makes cash contributions to public charities of $34,000 in 2012 and $31,000 in 2013.Grace's charitable contribution carryover to 2014 is

Question

Quizplus · Accepted Answer

Grace's total charitable contributions for 2012 and 2013 are $34,000 + $31,000 = $65,000. Since her AGI for both years is $60,000, she can deduct the full amount of her charitable contributions.

Therefore, she will have no charitable contribution carryover to 2014 for either year.

The correct answer is A)$0.

Grace Has AGI of $60,000 in 2012 and 2013