Question: Tax Drill - Charitable Contribution - Land Herman purchased undeveloped land for $ 7 5 , 0 0 0 on July 1 0 , 2

Tax Drill - Charitable Contribution - Land
Herman purchased undeveloped land for $75,000 on July 10,2018, and has held it as an investment since then. On May 9,2024, when the land is worth $140,000, he donates it to a private nonoperating foundation.
a. Herman's charitable contribution is $
b. Assume that Herman had donated the undeveloped land to a public charity. His charitable contribution would have been $
Tax Drill - Charitable Contribution - Land Herman

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