Question
Fs current year adjusted gross income is $42,000. F made the following charitable contributions in the current year: Cash contribution to church $4,500 Fair market
F’s current year adjusted gross income is $42,000. F made the following charitable contributions in the current year: Cash contribution to church $4,500 Fair market value of Microsoft Corp. stock donated to local university (cost basis $100, purchased 14 years ago) 2,000 Fair market value of used household goods donated to the Salvation Army (cost was $400) 150 What is F’s current year charitable contribution deduction (assuming he wants to maximize his charitable contribution deduction and itemizes his deductions)?
$4,750
$5,000
$6,650
$6,800
$6,900
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Personal Finance
Authors: Jeff Madura
5th edition
132994348, 978-0132994347
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