Multiple Choice
For the current year, Sheila Jones had adjusted gross income of $100,000. During the year, she contributed $6,000 to her church and an additional $3,000 to qualified charities. She also contributed religious artwork with a fair market value of $60,000 and a basis of $20,000 to her church. The church intends to display the religious artwork in the church foyer. What is the amount of the charitable contribution carry forward for Sheila Jones?
A) $30,000.
B) $20,000.
C) $10,000.
D) $0.
Correct Answer:
Verified
Correct Answer:
Verified
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