Terrence contributed $15,000 to a foreign charitable organization. at the time of the contribution, the organization told him that his contribution was tax deductible for income tax purposes. ignoring any income limitations, how much of the $15,000 contribution is deductible? a. $0.
b. $7,500.
c. $10,000.
d. $15,000.

B, $7,500

Explanation:

Deductible tax or tax deduction is the reduction or deduction that reduces an individuals tax liabilties by lowering his/her taxable income.

Deductible tax from charity contributions is up to 50% of the contributed amount for income tax purposes.

In the case of Terrence's contribution in the question, there is a clause that says to ignore income limitations.

We therfore take 50% of $15,000 which gives us $7,500 as the amount that is deductible from the contribution.

i.e; (50÷100) × $15.000

Cheers.

the answer is true.  i do believe this is the answer because of the amount of wrecks people get into each year.  if you double this with avoiding those so said wrecks, that would make you a "skilled" driver.

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