In March of 2019, Thomas makes a $5,000 cash contribution to a public university. In that month,
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In March of 2019, Thomas makes a $5,000 cash contribution to a public university. In that month, he also donates $20,000 to an organization subject to the 30 percent limitation. Thomas has adjusted gross income for 2019 of $30,000. What is the amount of Thomas’s 2019 charitable contribution deduction?
a. $5,000
b. $23,000
c. $14,000
d. $15,500
e. None of the above
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Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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