Karen,a Calendar Year Taxpayer,made the Following Donations to Qualified Charitable

question 59

Multiple Choice

Karen,a calendar year taxpayer,made the following donations to qualified charitable organizations in 2012: The land had been held as an investment and was acquired 4 years ago.Shortly after receipt,the City of Terre Haute sold the land for $210,000.Karen's AGI is $450,000.The allowable charitable contribution deduction is:

• A) $84,000 if the reduced deduction election is not made.
• B) $100,000 if the reduced deduction election is not made.
• C) $165,000 if the reduced deduction election is not made.
• D) $170,000 if the reduced deduction election is made.
• E) None of the above.

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