Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. paid $300 dues to a fraternal organization (suc

1. Paid $300 dues to a fraternal organization (such as the Elks Club). 2. Donated...

90.2K

Verified Solution

Question

Accounting

image

1. Paid $300 dues to a fraternal organization (such as the Elks Club). 2. Donated stock having a fair market value of $4,000 to a qualified charitable organization. He purchased the stock 3 years earlier for $2,500. 3. Paid S1,200 cash to qualified public charitable organization:s. Hakeem's adjusted gross income for this year was $45,000. What is the amount of his charitable contribution deduction for the year? A) $5,500 B) $5,200 C) $4,300 D) S4,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students