Asked by Sierra Beets on Jul 14, 2024

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Which of the following organizations generally qualify for deductible charitable contributions?

A) Churches.
B) Political parties.
C) A political action committee.
D) None of these.

Charitable Contributions

Donations made to qualified organizations that may be deductible from taxable income, subject to certain limits and requirements.

Political Parties

Organized groups that aim to influence public policy and government by nominating candidates for public office and securing seats in legislative bodies.

Churches

Religious institutions that may be eligible for certain tax exemptions, and their financial activities can include specific considerations under tax law.

  • Ascertain the eligibility of organizations for deductible donations and grasp the constraints related to adjusted gross income.
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BO
Besem ObenofundeJul 16, 2024
Final Answer :
A
Explanation :
Only churches and other qualifying religious organizations generally qualify for deductible charitable contributions. Political parties and political action committees do not qualify.