What is the likely outcome of helenas audit

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Question: In tax year 2021, Helena was single. She didn't have enough deductions to itemize so she decided to claim the $300 above-the-line charitable contribution as an adjustment to income. She made contributions to several charities during the year, which exceeded $400; however, she had no receipts or substantiation for the contributions. In tax year 2022, the IRS audited Helena and requested proof of the charitable contributions. What is the likely outcome of Helena's audit? a) The adjustment for charitable contributions will be allowed. b) The adjustment for charitable contributions will be disallowed and Helena will be subject to a 50% penalty of the disallowed $300 adjustment or $150. c) The adjustment will be disallowed, and Helena will have to amend

Reference no: EM133543644

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