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Charitable Contributions, Deductions & Taxes Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What effect does a deductible have on a person's income taxes?

Question 2 2. Which of the following is not a tax deductible charitable contribution?

Question 3 3. Which of the following is not a qualified organization to receive tax deductible donations?

Question 4 4. Which is TRUE when donating stock shares that have risen in the value?

Question 5 5. Which of the following is a good guideline for determining an item's fair market value?

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Question 6 6. You have $7,500 in charitable contributions that were carried over from 2015 to 2016. In 2016 your AGI was $75,000 and you made $20,000 in charitable contributions. How much of the $7,500 should be carried over to 2017?

Question 7 7. How long can you carry over charitable contributions?

Question 8 8. If your adjusted gross income (AGI) for 2017 is $35,000, and you have made charitable contributions of $19,000, how much can be carried over to 2018 taxes (assuming you have no other carryover deductions)?

Question 9 9. You are filing taxes for 2016. Your AGI is $50,000. You made $25,000 of contributions in 2016, but you also have amounts from 2010 you have carried over ($2,000). Which of the following is true?

Question 10 10. Which of the following is the most common limit to what you can deduct for charitable contributions?

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Question 11 11. Which of the following is TRUE of capital gain property?

Question 12 12. What is the fair market value of donated property?

Question 13 13. Bob bought a share of stock for $100 and donated it to charity three years later on March 1. The share was priced at $150 the day he gave it to the charity. On December 31st it was worth $175. What amount can he deduct on his taxes?

Question 14 14. Which of the following is TRUE of donating ordinary income property?

Question 15 15. Steve bought a share of stock for $100 and donated it to charity two months later. On the date of the donation the share was worth $150. How much money can Steve deduct on his taxes?

Charitable Contributions, Deductions & Taxes Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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