Question
Ann, who is single with no dependents, received the following amounts during 2019: $70,000 salary; and $2,000 dividend from Wal-Mart stock she owned (she later
Ann, who is single with no dependents, received the following amounts during 2019: $70,000 salary; and $2,000 dividend from Wal-Mart stock she owned (she later gave this amount to her mother to help pay her rent); Anns itemized deductions totaled $13,000. Compute Anns taxable income for 2019.
Group of answer choices
59,800
59,000
57,000
61,650
2.
Anna, an individual taxpayer, made the following payments during 2019:
- American Cancer Society (a qualified organization): $2,500 cash.
- 10 shares of ABC Company stock to her church, a qualified organization. (The stock was purchased in 1987 for $50 per share. Its FMV on the date of donation was $100 per share.) The church plans to hold the stock as an investment.
- $1,500 gift to her sick aunt.
Without considering limitations based on AGI, what is the total amount of the above that Anna can deduct on her 2019 tax return?
Group of answer choices
3,000
2,500
3,500
5,000
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