Question

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

Answer 1

Option E is the correct answer.

None of the above

Step-by-step explanation:

Donation to church= $2,550

Worth of household items=$450

Maximum allowable Charitable contribution= $3,000