Valentin donates stock with a fair market value of $80,000 to his alma mater's scholarship fund, a

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Valentin donates stock with a fair market value of $80,000 to his alma mater's scholarship fund, a public charity. He purchased the stock in 2005 for $20,000. Valentin's AGI for the current year is $250,000.

What is his charitable deduction for the year?

Related Book For answer-question

Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Posted Date: Apr 19, 2024 12:48 AM

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Valentin donates stock with a fair market value of $80,000 to his alma mater's scholarship fund, a

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To calculate Valentins charitable deduction for the year we need to consider the rules for charitabl... View the full answer

Concepts In Federal Taxation

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