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Taxpayer gives $500 to his favorite local 501c3 charitable organization. Taxpayer receives a thank you letter that states, Thank you for your donation of $500.
Taxpayer gives $500 to his favorite local 501c3 charitable organization. Taxpayer receives a thank you letter that states, "Thank you for your donation of $500. As a thank you, we sent you a T-shirt with an estimated fair market value of $50." What is Taxpayer's charitable contribution deduction? Question 6 options: a. $0 b. $50 c. $450 d. $500
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