The Hendrix Trust reports 2018 gross rent income of $120,000, expenses attributable to the rents...
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Accounting
The Hendrix Trust reports 2018 gross rent income of $120,000, expenses attributable to the rents of $44,400, $18,000 nontaxable interest income and a long-term capital gain of $3,000. Under the trust agreement, the trustee is to pay 30% of the net rental income to the First Methodist Church of Reading, a qualifying charitable organization. If required, round any division to two decimal places. Round your final answer to the nearest dollar. a. The charitable contribution deduction allowed for 2018 is $___________________
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