Amanda graduated summa cum laude in marketing from State University. As an honor student, she was a member of Beta Gamma Sigma, an honorary business fraternity. She has agreed to donate $250,000 to State University if it uses the proceeds to build a fraternity house for Beta Gamma Sigma. In addition, she has agreed to donate the money only if it is deductible as a charitable contribution. Determine whether Amanda’s donation qualifies as a charitable contribution

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 32P
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Amanda graduated summa cum laude in marketing from State University. As an honor student, she was a member of Beta Gamma Sigma, an honorary business fraternity. She has agreed to donate $250,000 to State University if it uses the proceeds to build a fraternity house for Beta Gamma Sigma. In addition, she has agreed to donate the money only if it is deductible as a charitable contribution. Determine whether Amanda’s donation qualifies as a charitable contribution.

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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