What is the maximum amount that Eugene and Linda can deduct

Assignment Help Financial Accounting
Reference no: EM132935912

Question - For 2020 Eugene and Linda had adjusted gross income of $30,000. Additional information is as follows:

Cash contribution to Church 1,500

Tuition paid to a private school 1,200

Contribution to a qualified charities 15,250

Contribution to a needy family 100

Political contribution 150

What is the maximum amount that Eugene and Linda can deduct as a charitable contribution for 2020?

Reference no: EM132935912

Questions Cloud

How much is the minimum acceptable price : If Western Mountain Pizza has 5,000,000 outstanding shares and are currently selling at P13. How much is the minimum acceptable price
What is the couple marriage penalty or benefit : Thomas would have reported taxable income of $10,000. Use Tax Rate Schedule for reference. What is the couple's marriage penalty or benefit
What is the target cost : What is the target cost if the company wants to maintain its same income? level, and marketing is correct? (rounded to the nearest? cent)
Implement a performance improvement plan : What procedures might be followed to draw up and implement a performance improvement plan?
What is the maximum amount that Eugene and Linda can deduct : For 2020 Eugene and Linda had adjusted gross income of $30,000. What is the maximum amount that Eugene and Linda can deduct
Identify two biggest threats to uber business in australia : Congratulations, you have been given an internship at Krombobpulos Michael Consulting. You have been asked to work on an analysis of one of their clients, Uber.
Identifying the job description and specification : HR generalist, Sales Manager, Marketing coordinator or research analyst. Develop a strategy for recruitment and selection including;
Find the amount to be charged as amortization : Zenith spent another $500 000 on infrastructure construction at the mine site. Find the amount to be charged as amortization
What amount can Arneldo claim as a loss : The partnership sustained a $242,000 loss in 2020. What amount can Arneldo claim as a loss from the partnership on his 2020 individual return

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find and solve the amount of the annual rental payment

Cobourg to purchase the equipment for $2,000 at the termination of the lease, calculate the amount of the annual rental payment.

  Western apparel company owns two stores and management is

western apparel company owns two stores and management is considering eliminating the east store due to declining

  What amount of forward loss peter senen company recognize

If the price increases, what amount of forward loss should Peter Senen Company recognize at December 31, 2021 statement of comprehensive income

  What was his overtime premium for this workweek

He is paid time-and-a-half for hours over 40 and his pay rate is $17.90/hour. What was his overtime premium for this workweek

  Determine the boundaries of these three stages of production

Average Product APL 1 2 3 4 5 6 7 8 9 10 ` B. Plot the (i) total product, (ii) marginal product, (iii) average product functions. C. Determine the boundaries of these three stages of production

  How would it impact the balance sheet and income statement

How would recording more units than are actually in inventory impact the 2016 balance sheet and income statement? How would it impact the 2017 balance sheet and income statement?

  How much is the depreciation expense for deuce company

How much is the depreciation expense in 20X5 if double-declining balance depreciation is used for 20X1-20X2 and there is a switch to straight-line in year 20X3?

  Journalize the withdrawal of Sara

The partnership capital balance is Sara $ 48,000 Brendan $48000, and Tim $21000 the profit loss ratio is 5:3:2. Journalize the withdrawal of Sara

  Statement of cash flows for proprietary funds

Do the financial statements include a statement of cash flows for proprietary funds? In how many categories are the cash flows presented? Is the statement on a direct or an indirect basis?

  Describe how the company should record

Determine whether the additional liability for the newly discovered asbestos is considered a change in accounting estimate or an error

  How much would the amount to in january

If $1642 is deposited on the first of January 1999 how much would this amount to in January 2001? A bank offers an annual interest rate of 7 .5% compounded

  How capital structure decision has to deal with more issues

The capital structure decision has to deal with more issues than the maximization of the firm's market alone? with explanations and provide example

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd