Question: I need help with these problems. Can you please explain with explanations? Joie owned stock in Ace Corp that she donated to a university (a
Joie owned stock in Ace Corp that she donated to a university (a qualified charitable organization) on September 10, 2019. What is the amount of Joie's charitable contribution deduction assuming that she had purchased the stock for $20,100 on October 1, 2013, and the stock had a value of $21,100 when she made the donation? A $8,100 B. $20,100 C. $21,100 D.523,200. E None of the above. QUESTION 16 In 2016, Pat invests $150,000 for a 20% partnership interest in an activity in which she is a passive participant. She has other passive income of $200,000 in 2016 and $100,000 in 2017. The partnership reports losses of $700,000 in 2016 and $500,000 in 2017. Pat's share of the partnership's losses is $140,000 in 2016 and $100,000 in 2017. How much of the losses can Pat deduct? CAS140,000 in 2016 and $100,000 in 2017. B. $200,000 in 2016 and $100,000 in 2017. C. $0 in 2016 and 50 in 2017 D. $140,000 in 2016 and $10,000 in 2017 None of the above QUESTION 17 Wilson, a computer lab manager, carns a salary of $80,000 and receives $30,000 in dividends and interest during the year. In addition, he incurs a loss of $10,000 from an investment in a non-real estate passive activity. His at-risk amount in the activity at the beginning of the year is $75,000. He has passive income of $5,000 from another investment. What is Wilson's adjusted gross income for this year? A $110,000 B.585,000 CS115,000 D. $117.000 E. None of the above
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