Question: rax Drill - Charitable Contribution - Stock Ponna donates stock in Chipper Corporation to the American Red Cross on September 1 0 , 2 0
rax Drill Charitable ContributionStock
Ponna donates stock in Chipper Corporation to the American Red Cross on September She purchased the stock for $ on December and it had a fair market value of $ when she made the donation.
a The stock is treated as property and Donna's charitable contribution deduction is : for tax purposes.
b Assume instead that the stock had a fair market value of $rather than $ when it was donated to the American Red Cross. Donna's charitable contribution deduction would be $ for tax purposes.
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