Rico makes $5,000 of cash donations in 2020. His itemized deductions exceed his standard deduction. What amount
Question:
Rico makes $5,000 of cash donations in 2020. His itemized deductions exceed his standard deduction. What amount will Rico deduct as a for AGI deduction for charitable contributions? His AGI in 2020 is $48,000.
a. $300
b. $5,000
c. $4,800
d. $0
e. $48,000
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Related Book For
Income Tax Fundamentals 2021
ISBN: 9780357141366
39th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
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