Zeke made the following donations to qualified charitable organizations for 2020.

	Basis	FMV
Used clothing of taxpayer and his family (all acquired more than a year ago)	$ 1,350	$ 375
Stock in ABC, Inc., held as an investment for 11 months	12,000	10,875
Stock in MNO, Inc., held as an investment for 15 months	15,000	18,000
Real estate held as an investment for two years (contributed to a private non-operating foundation)	15,000	30,000

Zeke also donated cash of $10,000 to a qualified charitable organization. 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. Zeke’s AGI is $100,000. What is Zeke’s charitable contribution deduction for 2019 (both before and after applying the percentage limitations)? Will Zeke have any charitable contribution deduction carryforward?

Answer rating: 100% (QA)

Zekes current charitable contribution deduction is 375 10875 15000 3000... View the full answer