In March of 2019, Thomas makes a $5,000 cash contribution to a public university. In that month, he also donates $20,000 to an organization subject to the 30 percent limitation. Thomas has adjusted gross income for 2019 of $30,000. What is the amount of Thomas's 2019 charitable contribution deduction?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In March of 2019, Thomas makes a $5,000 cash contribution to a public university. In that month, he also donates $20,000 to an organization ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A company's total liabilities divided by its total stockholders' equity is called the: Multiple Choice Equity ratio. Return on total assets ratio. Pledged assets to secured liabilities ratio. Debt-to-equity ratio.
Answers (1)
Mi ola swimwear may occasionally make changes to their corporate or business-unit strategies. Identify the item below that would indicate a change to the corporate strategy. a. Selling the swimsuits in a major department store. b.
Answers (1)
Gdp is the best measurement of a country's economy. explain why you agree or disagree with this statement
Answers (1)
Using the net worth method, calculate an individual's income from unknown sources. The following information is available:Increase in net worth $100,000, Known income $80,000, Salary $60,000 1. $0 2. $10,000 3. $20,000 4. $40,000
Answers (1)
Mains Corporation owns equipment with a cost of $290,000 and accumulated depreciation at December 31, 2014 of $150,000. It is estimated that the machinery will generate future cash flows of $165,000. The machinery has a fair value of $115,000.
Answers (1)
New Questions in Business
If a corporation is formed, then the owners are known as
Answers (1)
Archie Co. purchased a framing machine for $45,000 on January 1, 2018. The machine is expected to have a four-year life, with a residual value of $5,000 at the end of four years.
Answers (1)
Why is it important to include industry terminology in a résumé?
Answers (1)
Which of the following is true concerning employer funding of nonqualified deferred compensation plans? Multiple Choice Employers are required to invest salary deferred by employees in investments specified by the employees.
Answers (1)
Laura and her husband, Daniel, filed a joint return for 2017. The Internal Revenue Service offset their sizable refund in order to pay back child support owed to Daniel's first wife, Kiesha.
Answers (1)