Sixty percent of the income received by the Atom Trust this year constituted municipal bond interest.Atom's trustee also made a $100,000 gift to the United Fund,a qualifying charity.The charitable deduction associated with this gift is limited to $40,000.

Question

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The statement is true. The amount of the charitable deduction for the $100,000 gift to the United Fund is limited to $40,000, as stated.

Sixty Percent of the Income Received by the Atom Trust