In 2021, Tony made the following charitable contributions: Contribution FMV Adjusted Basis Donated To Business inventory $13,000
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Question:
Contribution FMV Adjusted Basis Donated To
Business inventory $13,000 $14,000 Church thrift shop
Used clothing (has to receipt) 800 2,000 Goodwill Industries
Investment in Apple stock 64,000 55,000 Heifer International
The inventory could have been sold for $19,000. How much may Tony claim as a
charitable contribution deduction?
a. $71,000
b. $71,800
c. $77,800
d. Some other number
Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
Posted Date: