LO.3 You are a senior government major at City University. Two of the five seats on city
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LO.3 You are a senior government major at City University. Two of the five seats on city council are up for election. Friends, knowing your interest in local politics, encourage you to run for city council. You are elected by a two-to-one majority. You received campaign contributions from the following:
Your parents $1,000 Your sister 1,500 Government professor who is your faculty adviser 500 Friends who are classmates 750 Other friends 400 All of these funds were used for legitimate campaign purposes (e.g., signs and ads in local newspaper). How much of the campaign contributions can be deducted by the donors?
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Related Book For
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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