Zeke made the following donations to qualified charitable organizations during the year 2019: Basis Fair...
Zeke made the following donations to qualified charitable
organizations during the year 2019:
Basis |
Fair Market Value |
|
| Used clothing (all acquired at least 18 months ago) of taxpayer and his family | $1,350 | $375 |
| Stock in ABC, Inc., held as an investment for 15 months | $12,000 | $10,875 |
| Stock in MNO, Inc., held as an investment for 11 months | $15,000 | $18,000 |
| Real estate held as an investment for 2 years | $15,000 | $30,000 |
The used clothing was donated to the Salvation Army; the other
items of property were donated to Eastern State University. Both
are qualified charitable organizations.
Disregarding percentage limitations, Zeke's current charitable
contribution deduction is:
A. $43,350
B. 56,250
C. $59,250
D. $60,375
E. None of these
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Zeke made the following donations to qualified charitable
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