Multiple Choice
Robert and Becky husband and wife) are both lawyers and they contribute money to various organizations each year.They file a joint return and their adjusted gross income for 2016 is $100,000.They contributed to the following organizations in 2016:
• $5,000 to Alta Sierra country club
• $10,000 to prevent cruelty to animals
• $2,000 to State Bar Association Political Action Committee
• $12,000 to cancer research foundation
• Donated clothing to Salvation Army.Robert originally purchased the items for $400,but the fair market value of the same items at a thrift store is equal to $50.)
How much can Robert and Becky deduct as charitable contributions for the year 2016?
A) $29,050.
B) $25,000.
C) $22,050.
D) $24,000.
Correct Answer:
Verified
Correct Answer:
Verified
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