In 2020 Ron and Hermione made the following contributions to the following organizations. Category Charity Property...
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In 2020 Ron and Hermione made the following contributions to the following organizations. Category Charity Property Cost FMV Goodwill Clothes and misc. household items (several years old) Coin Collection $15,700 $4,350 Civil War Museum Ron and Hermione's best friends whose house burned down Salvation Army Toys for Tots Henry Ford Hospital Wayne State University $19,500 $92,700 Cash $3,500 S3,500 Cash New toys $12,500 S12,500 $2,500 $2.500 $14,000 $6,000 Rigor stock Exxon Mobil Stock (held S17,500 S42,800 S years) Cash Wayne State University 55.000 S55.000 Determine the contribution category for each of these contributions - assuming that the Historical Museum plans to display the coin collection in the museum- and place in the column above. Determine Ron and Hermione's maximum deductible charitable contribution (and any carryover) assuming their AGI is S200,000. Category Amount 60% 50% 30% Carryover Determine Ron and Hermione's maximum deductible charitable contribution (and any carryover) assuming their AGI is S350,000. Category Amount 60% 50% 30% Carryover In 2020 Ron and Hermione made the following contributions to the following organizations. Category Charity Property Cost FMV Goodwill Clothes and misc. household items (several years old) Coin Collection $15,700 $4,350 Civil War Museum Ron and Hermione's best friends whose house burned down Salvation Army Toys for Tots Henry Ford Hospital Wayne State University $19,500 $92,700 Cash $3,500 S3,500 Cash New toys $12,500 S12,500 $2,500 $2.500 $14,000 $6,000 Rigor stock Exxon Mobil Stock (held S17,500 S42,800 S years) Cash Wayne State University 55.000 S55.000 Determine the contribution category for each of these contributions - assuming that the Historical Museum plans to display the coin collection in the museum- and place in the column above. Determine Ron and Hermione's maximum deductible charitable contribution (and any carryover) assuming their AGI is S200,000. Category Amount 60% 50% 30% Carryover Determine Ron and Hermione's maximum deductible charitable contribution (and any carryover) assuming their AGI is S350,000. Category Amount 60% 50% 30% Carryover
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Answer rating: 100% (QA)
Sollution ategny Amount avalabte for charitable Croodwill 4350 ivilwar Historital Museum 92700 Ron ... View the full answer
Related Book For
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Posted Date:
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