Question
This year, Dottie donated $10,000 in cash to her church and she also donated medical supplies with a fair market value and adjusted basis of
This year, Dottie donated $10,000 in cash to her church and she also donated medical supplies with a fair market value and adjusted basis of $20,000 to the Red Cross. Dottie's AGI for this year is $50,000. What is Dottie's charitable income tax contribution deduction for the year?
- $10,000
- $20,000
- $25,000
- $30,000
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Principles Of Corporate Finance
Authors: Lawrence J. Gitman, Sean M. Hennessey
2nd Canadian Edition
0321452933, 978-0321452931
