Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am looking at a sheet Donation: Cash contributions to church (all contributions were in cash and none were more than $250 at any one

I am looking at a sheet

Donation:

Cash contributions to church (all contributions were in cash and none were more than $250 at any one time) $4100

Cash contributions to a panhandler $25

Contribution of furniture to Goodwill - cost basis $400 & fair value basis $410

Can someone help me calculate donation amount and where to record.

  • So far, I have $4100+410=$4510 and I plan to record this amount of Schedule A (Itemized Deductions) on line 12 under "Gifts to Charity"

Is this correct?

Thanks!

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Information Systems Managing the Digital Firm

Authors: Kenneth C. Laudon, Jane P. Laudon

15th edition

134639715, 978-0134639710

More Books

Students also viewed these Accounting questions