Larry Lyons donated a small office building to a qualified charity when the adjusted basis was $90,000
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Larry Lyons donated a small office building to a qualified charity when the adjusted basis was $90,000 and the fair market value was $160,000. Larry had taken depreciation deductions in excess of straight-line depreciation of $50,000. What is Larry’s charitable contribution before application of limits?
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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