Business, 18.06.2021 21:00 terrenevans4156
Deet, an unmarried taxpayer, qualified to itemize deductions. Deet's adjusted gross income was $40,000 and he made a $1,500 substantiated cash donation directly to a needy family. In the same year, Deet also donated art, valued at $11,000, to a local art museum. Deet had purchased the artwork two years earlier for $2,000. What was the maximum amount of the charitable contribution allowable as an itemized deduction on Deet's income tax return
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Deet, an unmarried taxpayer, qualified to itemize deductions. Deet's adjusted gross income was $40,0...
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