Assignment 7

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Assignment 7

Question

Assignment 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 » Assignments