{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Personal Credits - IN-CLASS PROBLEMS PERSONAL CREDITS...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
IN-CLASS PROBLEMS PERSONAL CREDITS PROBLEM 1 On the assumption that all of the following are paid in the year, are properly receipted (unless otherwise indicated), and fall within the income limitation, can each of these donations be included in an individual’s claim for the charitable donation tax credit in the current tax year? If they cannot, explain. (a) A donation of $2,500 to the United Way. Y N (b) A contribution of $500 to the Liberal Party of Canada. Y N (c) A cash donation of $25 placed in the Christmas collection at the taxpayer’s church. No receipt was issued. Y N (d) A donation of $2,000 to the University of Cambridge in the U.K. Y N (e) A donation of $4,000 to Harvard University, which is attended by the taxpayer’s daughter. Y N (f) A donation of $200 to the Heart Foundation. Y N (g) A $5 cash donation to the Girl Guides when they were around selling cookies. No receipt was issued. Y N
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
(h) A donation of used clothing to the Salvation Army. Y N (i) A donation of $35 to the Canadian Lacrosse Association. Y N (j) A donation of $100 to the Regina Housing Corporation, a not-for-profit organization which provides low-cost housing for seniors. Y N (k) A donation of $2,000 to Slippery Rock University in the United States. Y N PROBLEM 2 In the summer of 20X9, Janine, a 45-year old university professor, accepted a five-year
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern