Business, 26.01.2021 03:20 Sanonymous
Spencer, who itemizes deductions, had adjusted gross income of $60,000 for the current year. The following additional information is available for the year:
Cash Contribution to Church $4,000
Purchase of art object at church bazaar
(with a fair market value of $800 on the date of purchase) 1,200
Donation of used clothing to Salvation Army
(fair value evidenced by receipt received) 600
What is the maximum amount Spencer can claim as a deduction for charitable contributions in the current year?
Answers: 1
Business, 21.06.2019 19:20
You wish to buy a cabin in 15 years. today, the cabin costs $150,000. you believe the price of the cabin will inflate at 4% annually. you want to invest a single amount of money (lump sum) today and have the money grow to equal the future purchase price of the cabin 15 years from now. if you can earn 10% annually on your investments, how much do you need to invest now, in order to be able to purchase the cabin?
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Spencer, who itemizes deductions, had adjusted gross income of $60,000 for the current year. The fol...
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