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Ryans AGI in 2022 was $100,000. He inherited a large amount of money from the estate of his grandfather, and is very charitably inclined. A
Ryans AGI in 2022 was $100,000. He inherited a large amount of money from the estate of his grandfather, and is very charitably inclined. A recent earthquake devastated several cities on the West Coast, and Ryan wanted to assist in getting the people affected back on their feet. In 2022 he gave a $75,000 donation to the Red Cross (public charity), which is spearheading relief efforts in the region. How much of the contribution could Ryan deduct on his 2022 income tax return?
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