Can you show me how to figure the charitable contribution amount of $12,540?
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Can you show me how to figure the charitable contribution amount of $12,540?
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- How did you come up with the $25.520 for large donations and the publice support amount of $91.520? Thank you!Use Patty's charitable contribution information from the above question to answer the following question: Now Assume that Patty's AGI for 2023 is $125,000. Calculate Patty's itemized deduction for charitable contributions for 2023 based on the above information, considering all relevant AGI limitations.How did you end up with $25,520 for the large contributions?
- Use Patty's charitable contribution information from above to answer the following question: Assume that Patty's AGI for 2023 is $60,000. Calculate Patty's itemized deduction for charitable contributions for 2023 based on the above information, considering all relevant AGI limitations.Decide whether a person should itemize his deductions or take the standard deduction Deductible Expenditures 8800 home mortage interest 2700 contributions to charity 630 for state income Standard deduction is 11400Which of the following expenses is deductible from gross income?* a. Contribution to a newspaper fund for needy families when such newspaper organizes a drive solely for charitable purposes. b. Premiums paid by the self-employer for the life insurance of his employees c. Contribution to the construction of a chapel of a university that declares dividends to its stockholders d. Donation of prizes and awards to athletes in local and international competitions and sanctioned by their respective sport associations.
- If you give time at a charitable organization can you deduct your transportation?Carmen is the beneficiary of an RESP. She just received an educational assistance payment of $5,000. Prior to the payment, her RESP had investment income of $23,000 and a CESG balance of $1,600. What portion of CESG is paid out in the EAP amount of $5000? Round all your calculations to the nearest dollar. Correct answer with explanation needed.For 2022, Eugene and Linda had adjusted gross income of $30,000. Additional information for 2022 is as follows: Cash contribution to American Heart Association $1,300 Tuition paid to a parochial school $1,200 Cash contribution to a qualified charity $400 Cash contribution to a needy family $100 What is the maximum amount they can deduct for charitable contributions in 2022?