Question
Connor contributed $450,000 cash to qualified public charities in 2021. His AGI was $400,000. Which of the following statement is true? a. Connors charitable contribution
Connor contributed $450,000 cash to qualified public charities in 2021. His AGI was $400,000. Which of the following statement is true?
a. | Connors charitable contribution deduction is limited to $450,000. | |
b. | Connors charitable contribution deduction is limited to $400,000, and he has a $50,000 contribution carryover to future years. | |
c. | Connors charitable contribution deduction is limited to $240,000, and he has a $210,000 contribution carryover to future years. | |
d. | Connors charitable contribution deduction is limited to $200,000, and he has a $250,000 contribution carryover to future years. |
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