Larry recorded the following donations this year:
$500 cash to a family in need
$2,400 to a church
$500 cash to a political campaign
To the Salvation Army household items that originally cost $1,200 but are worth $300.
What is Larry's maximum allowable charitable contribution if his AGI is $60,000?
A. $2,900
B. $1,000
C. $2,700
D. $4,600
E. None of these
Answer: C. $2,700