Karen,a calendar year taxpayer,made the following donations to qualified charitable organizations during the year:

The land had been held as an investment and was acquired 4 years ago.Shortly after receipt,the City of Terre Haute sold the land for $210,000.Karen's AGI is $450,000.The allowable charitable contribution deduction this year is:
A)$100,000.
B)$165,000.
C)$225,000.
D)$240,000.
E)None of the above.

Question

Karen,a calendar year taxpayer,made the following donations to qualified charitable organizations during the year:
​

The land had been held as an investment and was acquired 4 years ago.Shortly after receipt,the City of Terre Haute sold the land for $210,000.Karen's AGI is $450,000.The allowable charitable contribution deduction this year is:
A)$100,000. 
B)$165,000. 
C)$225,000. 
D)$240,000. 
E)None of the above.

Quizplus · Accepted Answer

The Answer of Karen,a calendar year taxpayer,made the following donations to qualified charitable organizations during the year:
​

The land had been held as an investment and was acquired 4 years ago.Shortly after receipt,the City of Terre Haute sold the land for $210,000.Karen's AGI is $450,000.The allowable charitable contribution deduction this year is:
A)$100,000. 
B)$165,000. 
C)$225,000. 
D)$240,000. 
E)None of the above.

Karen,a Calendar Year Taxpayer,made the Following Donations to Qualified Charitable