Kevin and Judy Oak are married and they file joint tax returns. Kevin and Judy Oak make cash

contributions to the University of Nebraska Foundation every year to provide scholarships to

accounting students in the amount of $1,000 a year. They would like to know if these

contributions are deductible on their joint tax return. They think they may have missed taking a

charitable contribution deduction in 2019 and would like you to amend their 2019 tax return if

a charitable contribution deduction was allowable.

Since there have been so many tax changes lately, they would like you to research the following

issues.

1) What was the limitation for deducting charitable contributions in 2019 if they itemized

deductions?

2) Could they have taken a charitable contribution deduction in 2019 for any portion of

their 2019 $1,000 contribution if they did not itemize deductions?

3) They extended their 2021 tax return and have not filed it yet. If they do not itemize

deductions, are they allowed a deduction for any portion of their $1,000 contribution in

2021? If so, how much is the deduction?

4) How much of their 2021 $1,000 contribution could they deduct in 2021 if they do

itemize deductions?

5) How much of their contribution can they deduct in 2021 if they do not itemize

deductions and the donation is a contribution of stock worth $1,000 instead of a cash

contribution.