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Your AGI is $100,000. During the year, you gave $30,000 cash to a qualified organization that subject to the 50% limit. You also gave long-term
- Your AGI is $100,000. During the year, you gave $30,000 cash to a qualified organization that subject to the 50% limit. You also gave long-term capital gain property (related use) with an FMV of $25,000 to another 50% limit organization. You did NOT choose to make the basis election. How much of your charitable contribution can be deducted this year?
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
8th edition
978-1259569197
