Anna, an individual taxpayer, made the following payments during 2021: American Cancer Society (a qualified organization): $2,500
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Question:
Anna, an individual taxpayer, made the following payments during 2021:
- American Cancer Society (a qualified organization): $2,500 cash.
- 10 shares of ABC Company stock to her church, a qualified organization. (The stock was purchased in 1987 for $50 per share. Its FMV on the date of donation was $100 per share.) The church plans to hold the stock as an investment.
- $1,500 gift to her sick aunt.
Without considering limitations based on AGI, what is the total amount of the above that Anna can deduct on her 2021 tax return?
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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