What is hosta trusts charitable deduction


Question: The Hosta Trust reports gross rent income of $97,400, expenses attributable to the rents of $68,180, and tax-exempt interest from state bonds of $24,350. Under the trust agreement, the trustee is to pay 20% of the annual trust accounting income to the American Red Cross, a qualifying charitable organization.

What is Hosta Trust's charitable deduction?

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Accounting Basics: What is hosta trusts charitable deduction
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