Question
In the current year, the following contributions are made by Marsha Mellow: Marsha purchased a raffle ticket from her church: $150 Cash given to Marshas
In the current year, the following contributions are made by Marsha Mellow:
Marsha purchased a raffle ticket from her church: $150 Cash given to Marshas church: $200 Dues for her Chamber of Commerce membership: $400
Marsha also gave away stock she purchased in 2010: (Cost = $1,250; FMV = $1,800)
Marsha gave away some old clothing to Goodwill: (Cost = $900; FMV = $200)
Marsha did volunteer work at the small hospital in her hometown: (she needed to purchase a uniform that cost @ $40)
Assuming Marshas gross income is $35,000, what is the amount of her allowable charitable contribution?
Answer: (show calculations & briefly discuss reasoning/rule): 1-2 sentences is fine for each rule/item used in determining your answer, etc.
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