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For which of the following types of tax-exempt organizations are contributions deductible on the donors Federal income tax return? a.

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For which of the following types of tax-exempt organizations are contributions deductible on the donor’s Federal income tax return?

a. A § 501(c)(1) Federal credit union.

b. A § 501(c)(2) title-holding corporation for an exempt organization.

c. A § 501(c)(3) organization.

d. A § 501(c)(7) social club.

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Choice c is correct Contributions to a 501 c 3 organization are deductible on the donors Federal inc…View the full answer


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Related Book For  answer-question
South Western Federal Taxation 2023 Comprehensive Volume

South Western Federal Taxation 2023 Comprehensive Volume

ISBN: 9780357719688

46th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

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Question Details
Chapter # 23- Exempt Entities
Section: Review Questions
Problem: 4
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Question Posted: September 24, 2023 07:51:42
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