Question: Exercise 10-20 (Algorithmic) (LO. 6) Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2021. 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, 2021. She purchased the stock for $25,025 on December 28, 2020, and it had a fair market value of $35,750 when she made the donation. a. What is Donna's charitable contribution deduction? The stock is treated as X property and Donna's charitable contribution deduction is $ X for tax purposes. b. Assume instead that the stock had a fair market value of $21,450 (rather than $35,750) when it was donated to the American Red Cross. What is Donna's charitable contribution deduction? $

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