Devon Locke has 2020 Net Income For Tax Purposes of 93,808. After receiving a large inheritance from his aunt's estate, he donates $120,000 to the United Way. He chooses to claim 48,715 of his donation in 2020. In 2021, his income remains at 93,808 and he makes no further donations. 

Determine Mr. Locke's charitable donations tax credit for 2020.

Answer rating: 100% (QA)

The charitable donations tax credit for 2020 can be calculated as follows Firs... View the full answer