Casey owned stock in Jupiter Corporation that he donated to a university (a qualified charitable organization) on December 30, 2012. What is the amount of Casey's deduction, assuming that he had purchased the stock for $10,000 on January 3, 2012, and the stock had a fair market value of $32,000 when he made the donation? Casey's AGI is $400,000. (Points : 5) $0 $10,000 $21,000 $32,000 None of the above

Cornelia incurred the following expenses for her dependent son during the current year:

Payment of principal on son's mortgage loan	$5,500
Interest on son's mortgage loan	$4,500
Payment of son's medical expenses	$2,500
Payment of son's property taxes	$2,750

How much may Cornelia consider in computing her itemized deductions? (Points : 5) $2,750 $2,500 $4,500 $9,750 $15,250

Denice's regular income tax liability is $200,000, and her tentative AMT is $270,000. Denice's AMT is: (Points : 5) $0. $70,000. $270,000. $370,000. None of the above