Enter all amounts as positive numbers. Gifts to Charity Caution: If you made a gift and got a benefit for it, see instructions. 11 Gifts by cash or check. If you made any gift of $250 or more, see instructions... 12 Other than by cash or check. If you made any gift of $250 or more, see instructions. You must attach Form 8283 if over $500... 13 Carryover from prior year. 14 Add lines 11 through 13.. 11 12 13 5,600 ✔ 0 X 14 5,600 X

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A-6

Charitable Contributions (LO 5.9)
Doran made the following contributions during 2023:
His synagogue (by check)
The Republican Party (by check)
The American Red Cross (by credit card)
His fraternal organization for tickets to a holiday party
A baseball autographed by hall-of-fame baseball pitcher Sandy
Koufax (basis $0) donated to a public charity
Gifts to
Charity
Caution: If you
made a
$4,600
In addition, Doran donated used furniture to the Salvation Army that he purchased years ago for $10,000 with a fair market value of $2,000. Assuming Doran has adjusted gross income of $26,000, has the
necessary written acknowledgments, and itemizes deductions, use the Charitable Contributions Limitations worksheet and the Gifts to Charity portion of Schedule A of Form 1040 from Appendix F to report the
itemized deduction for charitable contributions.
Enter all amounts as positive numbers.
gift and got a
benefit for it,
see instructions.
400
1,000
100
6,500
11 Gifts by cash or check. If you made any gift of $250 or more,
see instructions..
12 Other than by cash or check. If you made any gift of $250 or
more, see instructions. You must attach Form 8283 if over
$500....
13 Carryover from prior year
14 Add lines 11 through 13
11
12
13
5,600 ✓
0 X
14
5,600 X
Transcribed Image Text:Charitable Contributions (LO 5.9) Doran made the following contributions during 2023: His synagogue (by check) The Republican Party (by check) The American Red Cross (by credit card) His fraternal organization for tickets to a holiday party A baseball autographed by hall-of-fame baseball pitcher Sandy Koufax (basis $0) donated to a public charity Gifts to Charity Caution: If you made a $4,600 In addition, Doran donated used furniture to the Salvation Army that he purchased years ago for $10,000 with a fair market value of $2,000. Assuming Doran has adjusted gross income of $26,000, has the necessary written acknowledgments, and itemizes deductions, use the Charitable Contributions Limitations worksheet and the Gifts to Charity portion of Schedule A of Form 1040 from Appendix F to report the itemized deduction for charitable contributions. Enter all amounts as positive numbers. gift and got a benefit for it, see instructions. 400 1,000 100 6,500 11 Gifts by cash or check. If you made any gift of $250 or more, see instructions.. 12 Other than by cash or check. If you made any gift of $250 or more, see instructions. You must attach Form 8283 if over $500.... 13 Carryover from prior year 14 Add lines 11 through 13 11 12 13 5,600 ✓ 0 X 14 5,600 X
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