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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Authors: Anne Britton, Chris Waterston
4th Edition
0273703609, 978-0273703600
