
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A-6

Transcribed Image Text:Charitable Contributions (LO 5.9)
Doran made the following contributions during 2023:
His synagogue (by check)
The Republican Party (by check)
The American Red Cross (by credit card)
His fraternal organization for tickets to a holiday party
A baseball autographed by hall-of-fame baseball pitcher Sandy
Koufax (basis $0) donated to a public charity
Gifts to
Charity
Caution: If you
made a
$4,600
In addition, Doran donated used furniture to the Salvation Army that he purchased years ago for $10,000 with a fair market value of $2,000. Assuming Doran has adjusted gross income of $26,000, has the
necessary written acknowledgments, and itemizes deductions, use the Charitable Contributions Limitations worksheet and the Gifts to Charity portion of Schedule A of Form 1040 from Appendix F to report the
itemized deduction for charitable contributions.
Enter all amounts as positive numbers.
gift and got a
benefit for it,
see instructions.
400
1,000
100
6,500
11 Gifts by cash or check. If you made any gift of $250 or more,
see instructions..
12 Other than by cash or check. If you made any gift of $250 or
more, see instructions. You must attach Form 8283 if over
$500....
13 Carryover from prior year
14 Add lines 11 through 13
11
12
13
5,600 ✓
0 X
14
5,600 X
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