Question

Odessa is itemizing deductions on her federal income tax return. Her AGI was $173,790 last year, and she contributed $88,570 to charity. If charitable contributions are deductible up to 50% of a taxpayer's AGI, how much can Odessa deduct for charitable contributions?

Answer 1

$86,895. is the answer hope this helps

Answer 2

Adjusted Gross income of Odessa = $173, 790

Amount Contributed by Odessa to charity = $ 88, 570

As , A G I = Gross Income - Deduction

Deduction on tax = 50% of a Odessa A G I

=
`(50)/(100)* 173,790 = 86895`$

Amount that Odessa can deduct for charitable contributions = $ 86,895