00 cash to a family in need $2,400 to St Paul Catholic Church 5500 cash to a political campaig on Army household items that originally cost $1,200 but are worth $500. s Lupe's maximum allowable charaable contribution if lver AGI is $60,0001 a, $2.900 b$1,000 $2,700 d$4,600 e. None of these 25. Which of the following is a true statement? a. Taxpayers may only deduct interest on up to $1,500,000 of acquisition indebtedness b. Taxpayers may deduct interest on up to $1,000,000 of home-equity debt C. The deduction for investment interest expense is not subject to limitation d. Interest on home equity debt up to $100,000 is deductible, even if the loan proceeds are used to buy a new car e. None of these is true 26. When the wash sale rules apply, the realized loss is: a. recognized at time of sale b. not recog c. recognized at time of sale and added to basis of the newly acquired stock d. not recognized at time of sale and added to basis of the newly acquired stock e. not recognized at time of sale and subtracted from the basis of the newly acquired nized at time of sale and does not affect basis of newly acquired stock stock 10