Patrick's Records for the Current Year Contain the Following Information

question 70

Multiple Choice

Patrick's records for the current year contain the following information: -He donated stock having a fair market value of $5,000 to a qualified charitable organization.Patrick acquired the stock two years ago at a cost of $3,000.
-He donated 20 hours of his time as a professional plumber to a qualified charitable organization.He bills his time to his customers at $50 per hour.
-He also donated $7,500 cash to a qualified charitable organization.
Patrick's adjusted gross income for the year is $100,000.What is the amount of his charitable contribution deduction?

• A)$10,500
• B)$11,500
• C)$12,500
• D)$13,500

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Definitions:

Passive-aggressive

A behavior pattern characterized by indirect resistance to the demands of others and the avoidance of direct confrontation, often in procrastination and intentional mistakes.

Impulsive Behavior

Actions taken without forethought, often driven by immediate desires or emotions, without considering the consequences.

Open-ended Questions

Questions formulated to elicit detailed and thoughtful responses rather than simple "yes" or "no" answers, encouraging deeper conversation and insight.

Convergent Questions

Refers to questions designed to lead to a single, correct answer, promoting convergent thinking.