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70. Which of the following statements is TRUE? A) John gave bags of old clothes to a needy family recommended by his church. The estimated
70.
Which of the following statements is TRUE? A) John gave bags of old clothes to a needy family recommended by his church. The estimated thrift shop value of those clothes may be deducted by John as a charitable donation. B) Capital Assets that have been held more than one year are subject to a 50% AGI ceiling if donated to a public charity. C) Charitable contributions that exceed the percentage of AGI limitations may be carried forward up to five years but may not be carried back to previous tax years. D) A medical doctor volunteers \& donates his medical services worth $2000 to a qualified charity organized to help inner-city kids who can't afford good medical care. The doctor may deduct this $2000 as a charitable donationStep by Step Solution
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