John and Charlotte Are Considering Contributing $1,000 to Their Church

question 191

Multiple Choice

John and Charlotte are considering contributing $1,000 to their church.This contribution will bring their total itemized deductions to $2,000.Assuming they are in the 15% marginal tax bracket,how much will they save in taxes by contributing this $1,000 to their church?

• A) $ 0
• B) $ 150
• C) $ 300
• D) $ 500
• E) $1,000

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