NACVA Exam CVA Topic 2 Question 95 Discussion

Actual exam question for NACVA's CVA exam

Question #: 95
Topic #: 2

No deduction is allowed for any charitable contribution of ________ or more unless the taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.

A$300

B$400

C$350

D$250

Show Suggested Answer

Suggested Answer: D

by Miesha at Sep 13, 2024, 02:21 AM

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Dorethea

3 months ago

I think the answer is E) A Ferrari. That's the only way the IRS will let me write off my charitable donations these days.

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Hildred

2 months ago

D) $250

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Mitsue

2 months ago

C) $350

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Jani

2 months ago

B) $400

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Jolanda

3 months ago

A) $300

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Aracelis

3 months ago

I think the answer is D) $250 because I remember learning that the threshold is lower.

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Alaine

3 months ago

A) $300 - the good old days when a few Benjamins could get you out of a tax headache. Those were the times!

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Venita

2 months ago

D) $250 - I always double check everything to avoid any issues with deductions.

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Juan

2 months ago

C) $350 - It's important to follow the rules when it comes to charitable contributions.

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Ceola

2 months ago

B) $400 - Yeah, now you really have to make sure you have all the paperwork in order.

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Zona

3 months ago

A) $300 - I remember those days too, it was much simpler back then.

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Callie

3 months ago

D) $250? Really? That's practically pocket change these days. The IRS must be feeling generous.

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Elouise

3 months ago

Because I remember reading that the threshold for charitable contributions is $350.

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Ernestine

3 months ago

C) $350 seems like the logical choice. Anything less than that and the IRS would be all over us like a bad rash.

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Vannessa

3 months ago

I think the answer is B) $400. I can't imagine the IRS letting us get away with charitable contributions of less than that without proof.

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Roxane

2 months ago

I'm not sure, but I think it might be D) $250.

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Terina

2 months ago

C) $350

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Daryl

2 months ago

I agree, I think the answer is B) $400.

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Tamar

2 months ago

A) $300

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Jeannetta

3 months ago

I think it's C) $350.

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Tran

3 months ago

I believe the answer is A) $300.

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Shaquana

3 months ago

Why do you think it's C) $350?

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Elouise

3 months ago

I disagree, I believe the answer is C) $350.

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Shaquana

4 months ago

I think the answer is A) $300.

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