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Karolina [17]
2 years ago
7

Charity Hospital is holding its annual gala in a fancy downtown hotel. Tickets are $200 each, and the organization estimates tha

t the fair value of the event is $125. Purchasers of gala tickets are entitled to a charitable contribution deduction of:
Business
1 answer:
allsm [11]2 years ago
5 0

Based on the amount paid for the tickets and their fair value, the portion that is entitled to <u>charitable contribution deduction</u> is $75.

When one buys a ticket to a charitable event, there is a chance that some of the ticket price can be treated as a charitable contribution deduction.

The part that can be treated as such is anything in excess of the fair value of the ticket. This amount in this case is:

= 200 - 125

= $75

In conclusion, the answer is $75.

Find out more on <u>charitable contribution deductions</u> at brainly.com/question/8706786.

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