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All questions pertain to the 2021 tax year. 1 1 point During the tax year, Taxpayer made the following contributions to his local hospital,
All questions pertain to the 2021 tax year. 1 1 point During the tax year, Taxpayer made the following contributions to his local hospital, which is a qualified domestic charitable organization. The hospital plans to sell the artwork to help fund operations. Assume that taxpayer is not subject to any AGI limitations. Determine the total charitable deduction to which Taxpayer is entitled. Tax Basis Fair Value Cash 5,000.00 5,000.00 Artwork 3,000.00 6,600.00 Apple, Inc. stock 4,225,00 11,750.00 GE stock 5,000.00 2,300.00 12,225.00 25.650.00 $24,750 $22,050 $25,650 $28.350
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