Question: 2 0 . Amy contributed $ 6 0 , 0 0 0 cash to the Red Cross. Amy's Adjusted Gross Income amounted to $ 1

20. Amy contributed $60,000 cash to the Red Cross. Amy's Adjusted Gross Income amounted to $100,000. Of the following choices, which one is the most correct assuming Amy itemizes and does not take the standard deduction?A. Amy can deduct all of the $60,000 as a Charitable Contribution on her federal individual income tax return as an itemized deduction.B. None of it can be deducted.C. Only $30,0000 is deductible based upon the 50% rule.D. Only $30,000 is deductible but the other $30,000 can be used the following year as a "carryover"

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