SHERRI DONATES 5000 TO THE UNIVERSITY IN EXCHANGE FOR THE RIGHT TO PURCHASE TICKETS FOR THE...
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SHERRI DONATES 5000 TO THE UNIVERSITY IN EXCHANGE FOR THE RIGHT TO PURCHASE TICKETS FOR THE UPCOMING FOOTBALL SEASON. HOW SHOULD SHE TREAT THE CONTRIBUTION? A DEDUCTION IS NOT ALLOWED, B: SHE MAY DEDUCT$5,000 AS A BUSINESS EXPENSE. C: SHE MAY DEDUCT $5,000 AS A CHARITABLE CONTRIBUTION D: SHE MUST LIMIT THE DEDUCTION TO 50% OF THE COST SHERRI DONATES 5000 TO THE UNIVERSITY IN EXCHANGE FOR THE RIGHT TO PURCHASE TICKETS FOR THE UPCOMING FOOTBALL SEASON. HOW SHOULD SHE TREAT THE CONTRIBUTION? A DEDUCTION IS NOT ALLOWED, B: SHE MAY DEDUCT$5,000 AS A BUSINESS EXPENSE. C: SHE MAY DEDUCT $5,000 AS A CHARITABLE CONTRIBUTION D: SHE MUST LIMIT THE DEDUCTION TO 50% OF THE COST
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