Sanchez incurred the following items.
Business income, exclusive of the following items $80,0...
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Business, 18.02.2020 03:39 electrofy456
Sanchez incurred the following items.
Business income, exclusive of the following items $80,000
Tax-exempt interest income 40,000
Payment to charity from 2020 Sanchez gross income, paid 3/1/21 20,000
Required:
a. Complete the following chart, indicating the charitable contributions deduction under the various assumptions.
Assumption 2020 Deduction for Contribution
1. Sanchez is a cash basis individual.
2. Sanchez is an accrual basis corporation.
3. Sanchez is a trust.
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