Question 49 of 100 Eleanor has adjusted gross income of S50 000 from her job as

Question

Question 49 of 100 Eleanor has adjusted gross income of S50 000 from her job as a rarian. Each year, she donat" S25,000 to the atiktic program at State College from mnes she ideed yer, ago m the deal and in exchange, she receives athletic event seating rights. She always claims a charitable contribution deduction as part of her tomired deductions. She has heard hat the initations on gifts to chariies inase 10% as part of the Tax Cuts and ty treaty Jobs Act, and tells you she wil increase her donation accordingly for 201a. Based on your knomedge of ICJA how mích a mis coston.1 b. adikan O The entire contribution will be deductible in full on Schedule A O Tre ertee contrbution wen be deductele, but t wil beinned to 2% of her aanted goss "came O 60% ofthe contribuhon wil be deddlie on Scheduie A O This will not be deductible Eecive for 2018 trough 2025, contributions in exchange for seatieg nights will no langer be deductble Mark for Solow up

Explanation / Answer

This will be not deductible . effective form 2018 through 2025, contibution in exchange of seating rights will not be available as.as per new rule 0% asuume charitable . earlier it was taken 80% of Total contibution as charitable for deduction

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