Ellie Chisum,a Calendar-Year Individual,wants to Make a Gift to a Charity

question 16

Multiple Choice

Ellie Chisum,a calendar-year individual,wants to make a gift to a charity that is deductible on her year 1 Form 1040.The gift must be made by Ellie:
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• A)During year 1.
• B)During year 1 and 2.
• C)On or before April 15, year 2.
• D)On or before September 30, year 2.

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Definitions:

Business

The practice of engaging in commercial, industrial, or professional activities with the aim of generating revenue and profit.

Genocide

The deliberate and systematic extermination of a national, racial, political, or cultural group.

Culture

The shared beliefs, customs, arts, and behaviors of a society or group of people.

Immediate Costs

Expenses or charges that are incurred and need to be paid at once or within a very short period.