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Assume a taxpayer makes a taxable contribution of cash only to a public charity. Which of the following statements describing the limitation on the amount
Assume a taxpayer makes a taxable contribution of cash only to a public charity. Which of the following statements describing the limitation on the amount of that may be deducted as an itemized deduction in the current year is true? PICK ALL THAT APPLY !! The taxpayer can deduct the contribution only up to 30% of the taxpayer's AGI in the current year . The taxpayer can deduct the contribution only up to 100% of the taxpayer's AGI in the current year if the donation is made in 2020 The taxpayer can deduct the contribution only up to 60% of the taxpayer's AGI in the current year if the donation is made in 2021 If the taxpayer does not itemize , the taxpayer may deduct up to $300 as a deduction FOR AGI in 2020
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