1) During the current year, Helen donates stock worth $50,000 to her local community college. Two years...
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2. On December 1, 2013, Rebecca Ward, a single taxpayer, comes to you for tax advice. At the end of every year, she donates $5,000 to charity. She has no other itemized deductions. This year, she plans to make her charitable donation with stock. She presents you with the following information relating to her stock investments:
Corporation FMV on Adjusted Date
Dec. 1 Basis Purchased
Sycamore $9,600 $7,800 05.22.08
Oak 2,900 3,800 09.10.09
Redwood 5,400 4,900 06.15.13
Which stock should Rebecca donate to charity? What other tax advice would you give her?
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date: