Grocer Services Corporation (a calendar year taxpayer), a wholesale distributor of food, made the following donations to
Question:
Grocer Services Corporation (a calendar year taxpayer), a wholesale distributor of food, made the following donations to qualified charitable organizations during the year:
Adjusted Basis Fair Market Value
How much qualifies for the charitable contribution deduction? (Points : 5)Â
a. $15,000.00
b. $16,850.00
c. $17,250.00
d.$19,450.00
Transcribed Image Text:
Food (held as inventory) donated to the Ohio Children's Shelter Passenger van to Ohio Children's Shelter, to be used to transport children to school Stock in Acme Corporation acquired 7 months ago and held as an investment, donated to Southwest University S3,500 S8,000 7,500 7,100 4,000 6,200
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Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts
ISBN: 9781305399884
39th Edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
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