19. Shawna is an accountant. She volunteered to help a Section 501(c)(3) organization with their...
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Accounting
19. Shawna is an accountant. She volunteered to help a Section 501(c)(3) organization with their bookkeeping and other accounting-related issues. The organization is a public charity. She normally bills clients $100 per hour. This past year, she spent 100 hours helping this organization and did not charge the organization for any of her time. Which one of the following statements is true?
a. Shawna cannot deduct the value of any of her time as a charitable contribution. b.Shawna can deduct $10,000 as a charitable contribution. c.Shawna can deduct $5,000 because all noncash contributions to public charities are limited to 50% of the contribution.
d.Shawna can deduct $3,000 because all noncash contributions to public charities are limited to 30% of the contribution.
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