Juan operated a business for his own account during 20X1 which generated gross income of $9,000,000...
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Juan operated a business for his own account during 20X1 which generated gross income of $9,000,000 and ordinary and necessary expenses of $3,000,000. Juan did not generate any other type of income. Juan is a philanthropist who regularly makes donations to non-profit entities. Juan made multiple donations during 20X1. What is the maximum amount that Juan could claim for donations to non-profit entities in 20X1? Juan operated a business for his own account during 20X1 which generated gross income of $9,000,000 and ordinary and necessary expenses of $3,000,000. Juan did not generate any other type of income. Juan is a philanthropist who regularly makes donations to non-profit entities. Juan made multiple donations during 20X1. What is the maximum amount that Juan could claim for donations to non-profit entities in 20X1?
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