Question: Sanchez incurred the following items Business income 80 000 Tax exempt in

Sanchez incurred the following items.
Business income ........................80,000
Tax-exempt interest income .................... 40,000
Payment to charity from 2016 Sanchez gross income, paid 3/1/17 ..... 20,000
Complete the following chart, indicating the charitable contributions deduction under the various assumptions.
Assumption 2016 Deduction for Contribution
Sanchez is a cash basis individual. ...... ____________________
Sanchez is an accrual basis corporation. .... ____________________
Sanchez is a trust. ............. ____________________


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  • CreatedSeptember 09, 2015
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