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25 June, 22:56

Larry recorded the following donations this year: $650 cash to a family in need $2,550 to a church $650 cash to a political campaign To the Salvation Army household items that originally cost $1,350 but are worth $450. What is Larry's maximum allowable charitable contribution if his AGI is $61,500? (Do not worry about the AGI limitation.)

a. $2,900

b. $1,000

c. $2,700

d. $4,600

e. None of these

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Answers (1)
  1. 25 June, 23:26
    0
    Option E is the correct answer.

    None of the above

    Explanation:

    Donation to church = $2,550

    Worth of household items=$450

    Maximum allowable Charitable contribution = $3,000
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