Devon Locke has 2020 Net Income For Tax Purposes of 88,245. After receiving a large...
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Devon Locke has 2020 Net Income For Tax Purposes of 88,245. After receiving a large inheritance from his aunts estate, he donates $120,000 to the United Way. He chooses to claim 34,925 of his donation in 2020. In 2021, his income remains at 88,245 and he makes no further donations. Determine Mr. Lockes charitable donations tax credit for 2020.
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