What is amount of tim''s charitable contribution deduction
Tim makes a $5,000 cash contribution to a public university. In that month he also donates $20,000 to an organization subject to the 30 percent limitation. Tim has AGI of $35,000. What is the amount of Tim's charitable contribution deduction?
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If Stacy had sold the building the $400,000 difference between the sales price and cost would have been a short-term capital gain. What is the amount of Stacy's deduction for this contribution, considering any limitation based on AGI.
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Cassie finished her undergraduate degree using money from a student loan. She earned $36,000 her first year and paid $2,600 in interest. How much can she take as a deduction for AGI student loan interest?
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Gene receives a $2,000 distribution from his educational savings account. He uses $1,600 to pay for qualified higher education expenses. On the date of the distribution,
The pool increased the value of Linda's house by $7,000 and it has a useful life of 10 years. How much of a deduction is Linda entitled to in the year of installation of the pool?
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