Pat,an insurance executive,contributed $1,000,000 to the reelection campaign of Governor Stephens,in hopes that Stephens will appoint her to a coveted position on the State Board of Insurance.How much of the contribution can Pat deduct?
A)$0
B)$100,000
C)$500,000
D)$1,000,000

Question

Quizplus · Accepted Answer

Political contributions are not tax-deductible. Therefore, Pat cannot deduct any portion of the $1,000,000 contribution on her tax return.

Pat,an Insurance Executive,contributed $1,000,000 to the Reelection Campaign of Governor