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

question 94

Multiple Choice

Karen,a calendar year taxpayer,made the following donations to qualified charitable organizations in the current year: 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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A business owned and operated by a single individual, where there's no legal distinction between the owner and the business entity.

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