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Chapter 8 Hework Question 7
Question
Chapter 8 Hework
7. During the current year, Melissa reports AGI of $200,000. As part of some estate planning, she donates
$30,000 to her alma mater, Middle State University, and $65,000 to a private nonoperating foundation. (Assume the year is 2020.)
Requirements
a. |
What is the amount of Melissa’s charitable deduction for the current year? |
b. |
Assume the same facts in Part a except that she donates $45,000 to Middle State University. |
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This question is taken from Accounting 015 – Tax Accounting I » Spring 2021 » Chapter 8 Homework