Question
Which of the following statements is true regarding documentation requirements for charitable contributions? Multiple Choice A noncash contribution of less than $250 must be supported
Which of the following statements is true regarding documentation requirements for charitable contributions?
Multiple Choice
A noncash contribution of less than $250 must be supported by a cancelled check, or a receipt, or other written acknowledgement from the charitable organization.
If the total deduction for all noncash contributions for the year is more than $500, Section A of Form 8283, Noncash Charitable Contributions, must be completed.
A contribution charged to a credit card is considered a cash contribution for purposes of documentation requirements.
All of these are true.
.
.
Which of the following miscellaneous itemized deductions is not subject to the 2% of AGI threshold?
Multiple Choice
Investment expenses.
Gambling losses.
Unreimbursed employee expenses.
Tax preparation fees.
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