For All of 2012, Aaron (A Calendar Year Taxpayer) Allowed

question 39

True/False

For all of 2012, Aaron (a calendar year taxpayer) allowed the City Men's Shelter, a qualified charitable organization, to use a building he owns rent-free.The building normally rents for $12,000 a year.Aaron must report $12,000 of rent income and will be allowed a charitable contribution deduction for 2012 of $12,000.

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Definitions:

Ectoderm

The outermost layer of cells or tissue of an embryo in early development, or the parts derived from this, which include the epidermis, nerve tissue, and neural crest.

Germ Layer

The three primary layers of cells (ectoderm, mesoderm, and endoderm) in the early embryo that give rise to all organs and tissues in the body.

Respiratory System

The biological system consisting of specific organs and structures used for gas exchange in animals and plants.

Ectoderm

The outermost of the three primary layers in an embryo, from which arises the nervous system, skin, and various sensory organs.