Question: Exercise 10-20 (Algorithmic) (LO. 6) Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2020. She purchased the stock for

Exercise 10-20 (Algorithmic) (LO. 6) Donna donates stock in Chipper Corporation

Exercise 10-20 (Algorithmic) (LO. 6) Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2020. She purchased the stock for $24,675 on December 28, 2019, and it had a fair market value of $35,250 when she made the donation. a. What is Donna's charitable contribution deduction? The stock is treated as property and Donna's charitable contribution deduction is $ for tax purposes. b. Assume instead that the stock had a fair market value of $21,150 (rather than $35,250) when it was donated to the American Red Cross. What is Donna's charitable contribution deduction

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