contestada

Florence is itemizing deductions on her federal income tax return. Her AGI was $197,130 last year, and she contributed $99,310 to charity. If charitable contributions are deductible up to 50% of a taxpayer's AGI, how much can Florence deduct for charitable contributions?

Respuesta :

shinmin

Adjusted gross income (AGI) is a person's total gross income minus specific deductions. So, Florence can deduct an amount of: .5 or 50% of 197130 = 98,565 is the maximum deduction which is less that actual amount given for the charitable contributions. 

CREEPYTHEKID

Answer:

The correct answer is $98,565

Step-by-step explanation:

Otras preguntas