Sydney, a single taxpayer who itemizes deductions, had $80,000 in adjusted gross income in year 2. During the year, she contributed $15,000 to her church. She also had a $17,000 contribution carryover from her year 1 church contributions. What is the maximum amount of charitable deduction that Sydney may claim on her year 2 income tax return? Group of answer choices $15,000. $19,200. $32,000. $40,000.

Sydney, a single taxpayer who itemizes deductions, had $80,000 in adjusted gross income in year 2. During the year, she contributed $15,000 to her church. She also had a $17,000 contribution carryover from her year 1 church contributions. What is the maximum amount of charitable deduction that Sydney may claim on her year 2 income tax return? Group of answer choices $15,000. $19,200. $32,000. $40,000.

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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