Question
In March of 2018, Thomas makes a $5,000 cash contribution to a public university. In that month, he also donates $20,000 to an organization subject
In March of 2018, Thomas makes a $5,000 cash contribution to a public university. In that month, he also donates $20,000 to an organization subject to the 30 percent limitation.
Thomas has adjusted gross income for 2018 of $30,000.
What is the amount of Thomas's 2018 charitable contribution deduction?
a.$15,500
b.$14,000
c.$5,000
d.$23,000
e.None of these choices are correct.
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Financial Accounting
Authors: Anne Britton, Chris Waterston
4th Edition
0273703609, 978-0273703600
