Ignacio and Perla Are Married and Both Are Professors at a Local

question 37

Multiple Choice

Ignacio and Perla are married and both are professors at a local college.They contribute money to various organizations each year and file a joint return.Their adjusted gross income for 2016 is $100,000.They contributed to the following organizations in 2016:
• $3,500 to the Sierra club
• $10,000 to the Red Cross
• $2,000 to a local political candidate
• $11,000 to cancer research foundation
• Donated clothing to Goodwill.Ignacio purchased the items for $450,but the thrift shop value of the same items at a local second-hand store is equal to $60.)
How much can Ignacio and Perla deduct as charitable contributions for the year 2016?

• A)$24,560.
• B)$26,560.
• C)$25,710.
• D)$26,500.

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Definitions:

Legislative Branch

The branch of government responsible for creating and enacting laws, typically consisting of two houses in a bicameral system.

Executive Leadership

The top management or leadership roles within an organization, responsible for strategic decision-making and organizational direction.

Sand Creek Massacre

A tragic event in 1864 in which a Colorado militia attacked and destroyed a peaceful village of Cheyenne and Arapaho, killing and mutilating scores of people.

Cheyenne Tribesmen

Members of the Cheyenne, a Native American people known for their history as nomadic hunters and their involvement in the resistance to westward expansion of the United States.