Aheahe recently donated $20 million to a local children's non-profit hospital. Which of the following statements is correct concerning the gift?
Select answer from the options below:
a) The hospital must pay taxes on the gift.
b) Since the gift was given to a charity, no federal taxes are owed on it.
c) Since the gift exceeds $17,000, Aheahe must pay federal taxes on it.
d) None of the choices is correct.

Question

12-07-2024
Business

Answered

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Aheahe recently donated $20 million to a local children's non-profit hospital. Which of the following statements is correct concerning the gift?
Select answer from the options below:
a) The hospital must pay taxes on the gift.
b) Since the gift was given to a charity, no federal taxes are owed on it.
c) Since the gift exceeds $17,000, Aheahe must pay federal taxes on it.
d) None of the choices is correct.

Sagot :

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