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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Income Tax Fundamentals 2020

ISBN: 9780357108239

38th Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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