What is the amount of the deduction and where on the draft forms does this deduction go?
Bill and Joyce make cash charitable contributions to the United Fund Campaign ($2700), Adelaide University ($510), Tremon University ($1900), and Christ the King Church is Kingston, R.I. ($3100). The Schnappaufs have documentation to verify their cash contributions.
They also donate property to the Salvation Army on July 15, 2018:
Antique table acquired 1/4/17, fair market value is $410, original cost is $225.
Dishwasher acquired 5/6/11, fair market value is $130, original cost is $700.
Sofa bed acquired 3/14/13, fair market value is $90, original cost is $800.
2 Men's suits acquired on various dates, fair market value is $140, original cost is $540.
The following deductions goes to column numner 11 and 12 of Itemized Deductions, Schedule A, Form 1040. | |
Deductions | Amount |
United Fund Campaign | 2700 |
Adelaide University | 510 |
Tremon University | 1900 |
Christ the King Church is Kingston, R.I. | 3100 |
Antique table | 410 |
Dishwasher | 130 |
Sofa bed | 90 |
2 Men's suits | 140 |
Total | 8980 |
Bill and Joyce may deduct a maximum of up to 50 percent of your adjusted gross income for the tax year of the donation. |
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