Linda had adjusted gross income of $24,000 in 2023. Linda donated $2,000 cash to a nonprofit hospital, $3,000 cash to a qualified domestic fraternal organization, and inventory with fair value of $8,000 and basis of $6,000 to a war veterans organization. What are Linda's allowable charitable contributions?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Linda had adjusted gross income of $24,000 in 2023. Linda donated $2,000 cash to a nonprofit hospital, $3,000 cash to a qualified domestic fraternal organization, and inventory
with fair value of $8,000 and basis of $6,000 to a war veterans’ organization. What are Linda's allowable charitable contributions?
Transcribed Image Text:Linda had adjusted gross income of $24,000 in 2023. Linda donated $2,000 cash to a nonprofit hospital, $3,000 cash to a qualified domestic fraternal organization, and inventory with fair value of $8,000 and basis of $6,000 to a war veterans’ organization. What are Linda's allowable charitable contributions?
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