Marcy Tucker received the following items this year. Determine to what extent each item is included in her AGI. (Leave no cells blank - be sure to enter "0" wherever required.) a. A $25,000 cash gift from her parents. b. A $500 cash award from the local Chamber of Commerce for her winning entry in a contest to name a new public park. c. $8,000 alimony from her former husband, which he paid under the terms of their 2011 divorce decree. d. $100,000 cash inheritance from her grandfather. a. Amount included in Marcy's AGI b. Amount included in Marcy's AGI C. Amount included in Marcy's AGI Amount included in Marcy's AGI d.

Marcy Tucker received the following items this year. Determine to what extent each item is included in her AGI. (Leave no cells blank - be sure to enter "0" wherever required.) a. A $25,000 cash gift from her parents. b. A $500 cash award from the local Chamber of Commerce for her winning entry in a contest to name a new public park. c. $8,000 alimony from her former husband, which he paid under the terms of their 2011 divorce decree. d. $100,000 cash inheritance from her grandfather. a. Amount included in Marcy's AGI b. Amount included in Marcy's AGI C. Amount included in Marcy's AGI Amount included in Marcy's AGI d.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxation Of Trusts And Estates

Section: Chapter Questions

Problem 16CE

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subject; accounting
Required information [The following information applies to the questions displayed below] Calvin reviewed his canceled checks and receipts this year (2023) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005. Donee Hobbs Medical Center State Museum A needy family United Way a. Calvin's AGI is $150,000. Item Charitable contribution deduction Carryover IBM stock Antique painting Food and clothes Cash Cost 6,000 5,500 500 18,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Note: Leave no answer blank. Enter zero if applicable. FMV $ 32,000 3,300 300 18,000
Subject: acounting