Question
On May 14 of the current year, Paul contributed clothing to the Salvation Army. The original cost of the clothing was $740. He has substantiation
On May 14 of the current year, Paul contributed clothing to the Salvation Army. The original cost of the clothing was $740. He has substantiation valuing the donation at $360. In addition, he made the following cash contributions and received a statement from each of the following organizations acknowledging his contribution:
Larkin College $850
United Way 152
First Methodist Church 790
Amos House (homeless shelter) 200
Local Chamber of Commerce 100
All of the above entities are nonprofit corporations and 501( c)(3) organizations except the Chamber of Commerce which is not a 501( c)(3) organization.
- What is the Schedule A deduction for charitable contributions?
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