2. In 2020, Gale and Cathy Alexander hosted an exchange student, Axel Muller, for 9 months. Axel was part of International Student Exchange Programs (a qualified organization). Axel attended tenth grade at the local high school. Gale and Cathy did not claim Axel as a dependent but paid the following items for Axel's well-being: Food and clothing Medical care Fair market value of lodging $1,500 200 2,700 100 $4,500 Entertainment Total Gale and Cathy have asked for your help in determining if any of the $4,500 can be deducted as a charitable contribution.
2. In 2020, Gale and Cathy Alexander hosted an exchange student, Axel Muller, for 9 months. Axel was part of International Student Exchange Programs (a qualified organization). Axel attended tenth grade at the local high school. Gale and Cathy did not claim Axel as a dependent but paid the following items for Axel's well-being: Food and clothing Medical care Fair market value of lodging $1,500 200 2,700 100 $4,500 Entertainment Total Gale and Cathy have asked for your help in determining if any of the $4,500 can be deducted as a charitable contribution.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![2. In 2020, Gale and Cathy Alexander hosted an exchange
student, Axel Muller, for 9 months. Axel was part of
International Student Exchange Programs (a qualified
organization). Axel attended tenth grade at the local high
school. Gale and Cathy did not claim Axel as a dependent
but paid the following items for Axel's well-being:
Food and clothing
Medical care
$1,500
200
Fair market value of lodging
2,700
100
$4,500
Entertainment
Total
Gale and Cathy have asked for your help in determining if
any of the $4,500 can be deducted as a charitable
contribution.
Required: Go to the IRS website (www.irs.gov) and locate
Publication 526. Please answer the question for Gale and
Cathy. If they can claim a deduction, be sure to include in
your post the amount that can be deducted and any
substantiation requirements.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe63db5b1-835d-4a4d-b428-a84d9f435103%2F9b30d5b1-c070-4a49-980c-bb1c19db03d4%2Fx4zbom2l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. In 2020, Gale and Cathy Alexander hosted an exchange
student, Axel Muller, for 9 months. Axel was part of
International Student Exchange Programs (a qualified
organization). Axel attended tenth grade at the local high
school. Gale and Cathy did not claim Axel as a dependent
but paid the following items for Axel's well-being:
Food and clothing
Medical care
$1,500
200
Fair market value of lodging
2,700
100
$4,500
Entertainment
Total
Gale and Cathy have asked for your help in determining if
any of the $4,500 can be deducted as a charitable
contribution.
Required: Go to the IRS website (www.irs.gov) and locate
Publication 526. Please answer the question for Gale and
Cathy. If they can claim a deduction, be sure to include in
your post the amount that can be deducted and any
substantiation requirements.
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