John donated appreciated capital stock that he has held over a year, with an adjusted basis of
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Question:
John donated appreciated capital stock that he has held over a year, with an adjusted basis of $20,000 and a FMV of $50,000, to a local qualified charity. His AGI for the year was $80,000.
How much of John's contribution is tax deductible?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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