Taylor, an unmarried taxpayer, had USD 90,000 in adjusted gross income for the current year. During the current year, Taylor donated land to a church and made no other contributions. Taylor purchased the land 15 years ago as an investment for USD 14,000. The land’s fair market value was USD 25,000 on the day of the donation. What is the maximum amount of charitable contribution that Taylor may deduct as an itemized deduction for the land donation for the current year?
参考答案(由小熊题库网聘请的专业题库老师提供的解答)
请点击↑↑↑ 查看官方参考答案 按钮
习题解析
请点击 查看官方参考答案 按钮
您可能感兴趣的题目
1 .在下列公司中，通常适合采用固定股利政策的是（ ）。
A 收益显著增长的公司 B 收益相对稳定的公司 C 财务风险较高的公司 D 投资机会较多的公司
2 .企业收入与分配管理应当遵循的原则包括（ ）。
A 投资与收益对等原则 B 依法分配原则 C 兼顾各方利益原则 D 分配与积累并重原则
3 .Which of the following is (are) among the requirements to enable a taxpayer to be classified as a “qualifying widow(er)”?I. A dependent has lived with the taxpayer for six months.II. The taxpayer has maintained the cost of the principal residence for six months.
A Neither I nor II. B II only. C I only. D Both I and II.
4 .Under a royalty agreement with another company, Wand Co. will pay royalties for the assignment of a patent for three years. The royalties paid should be reported as expense:
A At the date the royalty agreement began. B In the period paid. C In the period incurred. D At the date the royalty agreement expired.
5 .For USD 50 a month, Rawl Co. visits its customers’ premises and performs insect control services. If customers experience problems between regularly scheduled visits, Rawl makes service calls at no additional charge. Instead of paying monthly, customers may pay an annual fee of USD 540 in advance. For a customer who pays the annual fee in advance, Rawl should recognize the related revenue under U.S. GAAP:
A At the end of the contract year after all of the services have been performed. B Evenly over the contract year as the services are performed. C When the cash is collected. D At the end of the fiscal year.
7 .Mock operates a retail business selling illegal narcotic substances. Which of the following item(s) may Mock deduct in calculating business income?I. Cost of merchandise.II. Business expenses other than the cost of merchandise.
A II only. B I only. C Both I and II. D Neither I nor II.
8 .What is the underlying concept that supports the immediate recognition of a contingent loss?
A Substance over form. B Matching. C Conservatism. D Consistency.
9 .Consolidated financial statements are typically prepared when one company has a controlling financial interest in another unless:
A The two companies are in unrelated industries, such as manufacturing and real estate. B The subsidiary is a finance company. C The fiscal year-ends of the two companies are more than three months apart. D The subsidiary is in bankruptcy.
10 .Janet and Ted have two children, Mary (age 10) and Seth (age 12). Janet’s Aunt Martha resides with the family in an apartment over the garage. Martha’s only income is USD 1,500 a month in Social Security benefits. Janet and Ted receive no rent payments from Martha and provide all remaining support for her living arrangements. How many exemptions are Janet and Ted entitled to in filing their joint tax return?
A 5 B 4 C 2 D 3
