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What is Hosta charitable contribution deduction

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Reference no: EM132462360

Problem - The Hosta Trust reports gross rent income of $194,000, expenses attributable to the rents of $135,800, and tax-exempt interest from state bonds of $48,500. Under the trust agreement, the trustee is to pay 20% of the annual trust accounting income to the American Red Cross, a qualifying charitable organization. What is Hosta's charitable contribution deduction?

Reference no: EM132462360

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