Here is Willy and Nilly's list of 2019 charitable contributions, exactly as they handed it to you in your capacity as their MFJ return preparer: 

Our 2019 Charitable Contributions 

• $40,000 - FMV of ABC Corp. stock donated to American Red Cross 

• $6,000 – “Blue Book" retail value of 2010 pickup truck donated to Big Brothers Big Sisters of Collin County (BBBS) 

• $10,000 - Used clothing, furniture, household goods donated to Goodwill Industries of North Texas 

Due diligence notes: 

1. Each organization named by Willy and Nilly is eligible to receive tax- deductible donations. 

2. The ABC Corp. stock was donated on Sept. 1, 2019; it was inherited from Rich Uncle (died on May 30, 2019), who had bought it for $30,000 on May 1, 2019; FMV of the stock on May 30th was $35,000. 

3. The pickup truck was donated on June 30, 2019; on July 15, 2019, it was sold at auction by BBBS's auctioneer-agent for $3,500; BBBS netted $3,000 after the auctioneer's fee of $500. 

4. The used clothing and etc. was valued by Willy and Nilly at 50% of original cost ("Good enough for government work!" says Nilly); the approximate "thrift shop value” was $1,500. 

What total noncash charitable contributions amount will you enter into your 2019 return preparation software for Willy and Nilly?

Answer rating: 100% (QA)

Computation g NonCash charitable Contaibution for 2019 Particulars Amount Worki... View the full answer