During the current year, Bob has AGI of $100,000. He also donated some stock to his church.
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During the current year, Bob has AGI of $100,000. He also donated some stock to his church. He purchased the stock two years ago for $55,000. The FMV of the stock at the time of the contribution is $60,000. Bob has $5,000 of unused excess contributions from a prior year. What tax issues should Bob consider?
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The primary tax issue is whether the charitable contribution limits ie 30 of AGI f...View the full answer
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Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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