What is their charitable contribution deduction for year

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Reference no: EM13865959

1. Ben’s adjusted gross income for 2013 was $175,000. His final itemized deduction consisted of the following interest deductions: Acquisition Indebtedness: $50,000; Equity Indebtedness: $5,000. How much of these deductions must be added back in determining his alternative minimum taxable income?

$45,000

$5,000

$50,000

$55,000

2. Mr. and Mrs. Kroger gave their church $500,000 in a year when their AGI was $200,000; they made no other contributions. What is their charitable contribution deduction for that year?

$400,000

$200,000

$500,000

$100,000

Reference no: EM13865959

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