Charitable Contributions Made by a Fiduciary

question 31

Multiple Choice

Charitable contributions made by a fiduciary

• A)are limited to 50% of fiduciary income.
• B)must be authorized in the trust instrument in order to be deductible.
• C)flows through to be deducted on the beneficiary's tax return.
• D)are subject to the 2% floor.

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Definitions:

Inferior Venae Cavae

A large vein that carries deoxygenated blood from the lower half of the body to the right atrium of the heart.

Pulmonary Veins

Blood vessels that carry oxygenated blood from the lungs to the left atrium of the heart.

Mitral Valve

A valve in the heart that lies between the left atrium and left ventricle, regulating blood flow and preventing backflow.

Circumflex Artery

An artery that curves around the heart muscle, supplying blood to the left atrium and the side and back of the left ventricle.