Question
During the current year, Madison reports AGI of $195,000. As part of some estate planning, she donates $15,000 to her alma mater, Autumn University, and
During the current year, Madison reports AGI of $195,000. As part of some estate planning, she donates $15,000 to her alma mater, Autumn University, and $70,000
to a private nonoperating foundation. (Assume the year is 2019.)
Requirements
a. | What is the amount of Madison's charitable deduction for the current year? |
b. | Assume the same facts in Part a except that she donates $25,000 toAutumn University. |
Requirement a. What is the amount of
Madison's
charitable deduction for the current year?
Amount | |
---|---|
Charitable contribution for the year | $ |
Charitable contribution carryover | $ |
Requirement b. Assume the same facts in Part a except that she donates
$25,000
to
Autumn University.
Amount | |
---|---|
Charitable contribution for the year |
|
Charitable contribution carryover |
|
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