For ACCT 3350- Fundamentals of Federal Taxation

(4) Here is Billy and Bobby's list of 2019 charitable contributions, exactly as they handed it to you in your capacity as their MFJ return preparer: Our 2019 Charitable Contributions $25,000 - First Church of Eternal Salvation $4,000 SPCA of Texas $3,000 - Gary Sinise Foundation $2,500 - Collin County Disaster Relief Fund $500 - American Red Cross $120 - 24 boxes of Girl Scout cookies $80 - total amount for the year given to homeless persons asking for money at stop lights Due diligence notes: 1. Each organization named by Billy and Bobby is eligible to receive tax- deductible donations. 2. By prearrangement with their very accommodating pastor, the $25,000 that Billy and Bobby gave their church went partly (okay, largely) to cover Billy Jr.'s tuition at the "God and Country Day School" (not affiliated with their church); specifically, their pastor wrote a $21,000 check to the School for Jr.'s tuition while keeping $4,000 for the church. 3. Bobby wrote her $500 check payable to the Red Cross on December 21st but intentionally held onto it; she finally put it into the mail three weeks later. The Collin County property tax assessor/collector had offered all property owners the option of receiving a dollar-for-dollar credit against their property taxes for amounts up to $2,500 contributed to the county disaster relief fund; Billy and Bobby's property tax bill was $6,000, so they wrote two checks, one to the disaster relief fund ($2,500) and one to the tax assessor/collector ($3,500). What total cash charitable contributions amount will you enter into your return preparation software for Billy and Bobby? (Ignore any statutory limitations on annual amounts.) 4. (4) Here is Billy and Bobby's list of 2019 charitable contributions, exactly as they handed it to you in your capacity as their MFJ return preparer: Our 2019 Charitable Contributions $25,000 - First Church of Eternal Salvation $4,000 SPCA of Texas $3,000 - Gary Sinise Foundation $2,500 - Collin County Disaster Relief Fund $500 - American Red Cross $120 - 24 boxes of Girl Scout cookies $80 - total amount for the year given to homeless persons asking for money at stop lights Due diligence notes: 1. Each organization named by Billy and Bobby is eligible to receive tax- deductible donations. 2. By prearrangement with their very accommodating pastor, the $25,000 that Billy and Bobby gave their church went partly (okay, largely) to cover Billy Jr.'s tuition at the "God and Country Day School" (not affiliated with their church); specifically, their pastor wrote a $21,000 check to the School for Jr.'s tuition while keeping $4,000 for the church. 3. Bobby wrote her $500 check payable to the Red Cross on December 21st but intentionally held onto it; she finally put it into the mail three weeks later. The Collin County property tax assessor/collector had offered all property owners the option of receiving a dollar-for-dollar credit against their property taxes for amounts up to $2,500 contributed to the county disaster relief fund; Billy and Bobby's property tax bill was $6,000, so they wrote two checks, one to the disaster relief fund ($2,500) and one to the tax assessor/collector ($3,500). What total cash charitable contributions amount will you enter into your return preparation software for Billy and Bobby? (Ignore any statutory limitations on annual amounts.) 4