Don donates a truck that was used in his business to his church in 2019. The...

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Don donates a truck that was used in his business to his church in 2019. The truck, which was purchased for $2,500, has an adjusted basis of $810 and a FMV of $1,600 at the time of the contribution. The church sold the truck without using it. Don has a contribution base of $10,000. Compute Don's 2019 contribution deduction. Don donates a truck that was used in his business to his church in 2019. The truck, which was purchased for $2,500, has an adjusted basis of $810 and a FMV of $1,600 at the time of the contribution. The church sold the truck without using it. Don has a contribution base of $10,000. Compute Don's 2019 contribution deduction.

Answer rating: 100% (QA)

SOLUTION The amount of the contribution deduction that Don can claim for the donation of the truck t... View the full answer