Question
Linda, an accountant with AGI of $80,000, made the following donations: - $2,000 to the Presbyterian Church - $50 cash to her sister who lost
Linda, an accountant with AGI of $80,000, made the following donations: - $2,000 to the Presbyterian Church - $50 cash to her sister who lost her job - $1,000 cash to the Democratic political party - Used clothing to the Salvation Army. Linda's original cost for the clothing was $5,000 and the clothes were worth $300 at the time of the donation Calculate Linda's maximum allowable charitable contribution.
- $3,650 | |||||||||||||||||
- $2,300 | |||||||||||||||||
- $2,350 | |||||||||||||||||
- $8,050
Allison (29 years old) incurred the following expenses this year: State income taxes $4,000 State sales taxes $3,000 Property taxes on her car $500 Unreimbursed medical expenses $2,500 Cash Charitable Contribution $1,000 If Allison's AGI is $50,000, calculate the most itemized deductions that she can legally claim.
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