Raheem and Niseema (husband and wife) contributed a total of $15,000 in cash evenly throughout the year to their mosque during 2022. They also donated $3,000 to a private foundation which is a nonprofit cemetery organization. They knew that a 30% limit applies to contributions to such foundations. Their adjusted gross income for the year 2022 was $55,000. Raheem and Niseema's deductible contribution for the year 2022 and any carryover to next year is: Multiple Choice $15,000 with $0 carryover to next year. $9,000 with $1,800 carryover to next year. $15,900 with $2,100 carryover to next year. $18,000 with $0 carryover to next year.

Raheem and Niseema (husband and wife) contributed a total of $15,000 in cash evenly throughout the year to their mosque during 2022. They also donated $3,000 to a private foundation which is a nonprofit cemetery organization. They knew that a 30% limit applies to contributions to such foundations. Their adjusted gross income for the year 2022 was $55,000. Raheem and Niseema's deductible contribution for the year 2022 and any carryover to next year is: Multiple Choice $15,000 with $0 carryover to next year. $9,000 with $1,800 carryover to next year. $15,900 with $2,100 carryover to next year. $18,000 with $0 carryover to next year.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 5BCRQ

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