$154,600 In December of each year, Eleanor Young contributes 10% of her gross income to the United Way (a 50% organization). Eleanor who is in the 24% marginal tax bracket, is considering the following alternatives for satisfying the contribution. Fair Market Value (1) Cash donation (2) Unimproved land held for six years ($23,190 basis) $154,600 (3) Blue Corporation stock held for eight months ($23,190 basis) $154,600 (4) Gold Corporation stock held for two years ($185,520 basis) $154,600 Eleanor has asked you to help her decide which of the potential contributions listed above will be most advantageous tax-wise. Evaluate the four alternatives and complete a letter to Eleanor. Determine the amount of the charitable contribution for each option. Charitable Contribution Cash donation Unimproved land held for six years ($23,190 basis) Blue Corporation stock held for eight months ($23,190 basis) Gold Corporation stock held for two years (5185,520 basis) III Young, Nellen, Raabe, Hoffman, & Maloney, CPA 5191 Natorp Boulevard Mason, OH 450-40 December, 2020 Ms. Eli Young 2522 Bayshore Dele Burky, CA 94700 taar hts. Tary: | ha avaluated the proposed aitatives for your current year and contribution to the United way. I recommend that you all the Gold Corporation Black and donate the process to the United way. The formatives are discussed below A donation of cash, the med land, or the Cold stock will not charitable contributo dedin. Donation of the Blue Cupcation stock will result incolas charitable contribution deduction , A direct contribution of the Gold Ceporation stock will be de from a tax perspective in that the de value deducibile and the amount of the charaction would be you si the Gole stock and we the powd to United Way, the donation of the proceeds wild is a chantar contribution deduction. In addition, sale of the stock wall results knotum capital. you he capital gains of or mor the year, you can be the entire computing your current taxable incom If you have the capital and this year, you can add of the peale this year and carry retiremang loss to future You should make the donation in time for ownership to change has been the end of the year. Therefore, I recommend that you calify your broker madutely so that there will be problem in compling the donation na imely as Met know if you have any cus or would like to desity recommendation and the related analysis. Thank you fer concelling our fem on this matter. We took forward to serving you the future Since Nora Oldham. $154,600 In December of each year, Eleanor Young contributes 10% of her gross income to the United Way (a 50% organization). Eleanor who is in the 24% marginal tax bracket, is considering the following alternatives for satisfying the contribution. Fair Market Value (1) Cash donation (2) Unimproved land held for six years ($23,190 basis) $154,600 (3) Blue Corporation stock held for eight months ($23,190 basis) $154,600 (4) Gold Corporation stock held for two years ($185,520 basis) $154,600 Eleanor has asked you to help her decide which of the potential contributions listed above will be most advantageous tax-wise. Evaluate the four alternatives and complete a letter to Eleanor. Determine the amount of the charitable contribution for each option. Charitable Contribution Cash donation Unimproved land held for six years ($23,190 basis) Blue Corporation stock held for eight months ($23,190 basis) Gold Corporation stock held for two years (5185,520 basis) III Young, Nellen, Raabe, Hoffman, & Maloney, CPA 5191 Natorp Boulevard Mason, OH 450-40 December, 2020 Ms. Eli Young 2522 Bayshore Dele Burky, CA 94700 taar hts. Tary: | ha avaluated the proposed aitatives for your current year and contribution to the United way. I recommend that you all the Gold Corporation Black and donate the process to the United way. The formatives are discussed below A donation of cash, the med land, or the Cold stock will not charitable contributo dedin. Donation of the Blue Cupcation stock will result incolas charitable contribution deduction , A direct contribution of the Gold Ceporation stock will be de from a tax perspective in that the de value deducibile and the amount of the charaction would be you si the Gole stock and we the powd to United Way, the donation of the proceeds wild is a chantar contribution deduction. In addition, sale of the stock wall results knotum capital. you he capital gains of or mor the year, you can be the entire computing your current taxable incom If you have the capital and this year, you can add of the peale this year and carry retiremang loss to future You should make the donation in time for ownership to change has been the end of the year. Therefore, I recommend that you calify your broker madutely so that there will be problem in compling the donation na imely as Met know if you have any cus or would like to desity recommendation and the related analysis. Thank you fer concelling our fem on this matter. We took forward to serving you the future Since Nora Oldham
