Question
Anna, an individual taxpayer, made the following payments during 2021: American Cancer Society (a qualified organization): $2,500 cash. 10 shares of ABC Company stock to
Anna, an individual taxpayer, made the following payments during 2021:
- American Cancer Society (a qualified organization): $2,500 cash.
- 10 shares of ABC Company stock to her church, a qualified organization. (The stock was purchased in 1987 for $50 per share. Its FMV on the date of donation was $100 per share.) The church plans to hold the stock as an investment.
- $1,500 gift to her sick aunt.
Without considering limitations based on AGI, what is the total amount of the above that Anna can deduct on her 2021 tax return?
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As per the information provided Anna made the following payments during 2021 1 2500 cash donation to ...
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South-Western Federal Taxation 2019 Comprehensive
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
42th Edition
1337702544, 978-1337702546, 133770301X, 978-1337703017
