Examlex
Which of the following is the first step of a selection process?
Charitable Contribution
A donation or gift to a qualified organization that is eligible for a tax deduction.
Adjusted Gross Income
An individual's total gross income minus specific deductions, used to determine taxable income on an income tax return.
FMV
Fair Market Value, which is the price that an asset would sell for on the open market between a willing buyer and a willing seller.
Basis
The amount invested in a property for tax purposes, typically the cost of the property which is used to figure gain or loss on sale.
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