Test! Unit TU Law Exaull Inis question: 4 points possible In each of the following independent cases, determine the amount of the charitable contribution and the limitation that would apply. In each case, assume that the donee is a qualified public charity. (Click the icon to view the independent cases.) a. Susan donates a tract of land to a charitable organization. She has held the land for seven years. Her basis in the land is $16,000 and its FMV is $44,000. Contribution amount Limitation b. Assume the same facts in Part a, except that Susan has held the land for only 11 months and that its FMV is $27,000. Contribution amount Limitation c. Jim purchases a historical document for $59,000. He donates the historical document to a charitable organization two years later. The organization plans to use it for research and study. Its FMV at the time of the donation is $104,000. Contribution amount Limitation d. Assume the same facts in Partc, except that the organization plans to sell the document and put the money into an endowment fund. Contribution amount Limitation e. Vanessa donates some inventory to a charitable organization. The inventory is not food or clothing. The inventory is purchased for $600 and its FMV is $1.000 at the time of the donation. She held the inventory for seven months. Contribution amount Limitation Test! Unit TU Law Exaull Inis question: 4 points possible In each of the following independent cases, determine the amount of the charitable contribution and the limitation that would apply. In each case, assume that the donee is a qualified public charity. (Click the icon to view the independent cases.) a. Susan donates a tract of land to a charitable organization. She has held the land for seven years. Her basis in the land is $16,000 and its FMV is $44,000. Contribution amount Limitation b. Assume the same facts in Part a, except that Susan has held the land for only 11 months and that its FMV is $27,000. Contribution amount Limitation c. Jim purchases a historical document for $59,000. He donates the historical document to a charitable organization two years later. The organization plans to use it for research and study. Its FMV at the time of the donation is $104,000. Contribution amount Limitation d. Assume the same facts in Partc, except that the organization plans to sell the document and put the money into an endowment fund. Contribution amount Limitation e. Vanessa donates some inventory to a charitable organization. The inventory is not food or clothing. The inventory is purchased for $600 and its FMV is $1.000 at the time of the donation. She held the inventory for seven months. Contribution amount Limitation