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Calculate calvins charitable contribution deduction and carryover(if any) but using this model Agi 100,000 60% contribution 60% limit 60000 Allowable 60% deduction 50% contribution painting
Calculate calvins charitable contribution deduction and carryover(if any) but using this model
| Agi | 100,000 |
| 60% contribution | |
| 60% limit | 60000 |
| Allowable 60% deduction | |
| 50% contribution painting | |
| 50% agi contribution limit | |
| Allowable 50% deduction | |
| 30% contribution stocks | |
| 30% agi contribution limit | |
| remaining 50% agi contribution limit | |
| allowable 30% deduction | |
| Deductible charitable contribution |
| Agi | 100,000 | |
| item | cost | FMV |
| stock | 5,000 | 22,000 |
| painting | 5,000 | 3,000 |
| food/clothes | 400 | 250 |
| Cash | 8,000 | 8,000 |
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Accounting The Basis For Business Decisions
Authors: Robert F. Meigs, Walter B Meigs
5th Edition
007041551X, 9780070415515
