Question: Exercise 10-7 (Algorithmic) (LO. 2) Donna donates stock In Chipper Corporation to the American Red Cross on September 10, 2021, She purchased the stock for

Exercise 10-7 (Algorithmic) (LO. 2) Donna donates stock In Chipper Corporation to the American Red Cross on September 10, 2021, She purchased the stock for $28,000 on December 29, 2020, and it had a fair market value of $40,000 when she made the donation a. What Is Donna's charitable contribution deduction? The stock is treated as ordinary income property and Donna's charitable contribution deduction is purposes b. Assume instead that the stock had a fair market value of $24,000 (rather than $40,000) when it was donated to the American Red Cross. What is Donna's charitable contribution deduction? for tax

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