Tax Drill - Contribution Percentage Limitations
During the year, Morgan makes the following donations to his church: cash of $5,500 and stock worth
$50,000. Morgan had purchased the stock six years ago for $38,000 and held it as an investment.
Morgan's AGI for the year is $80,000.
What is Morgan potential deduction.
Answers: 3
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Tax Drill - Contribution Percentage Limitations
During the year, Morgan makes the following donati...
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