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D3 Corporation, a clothing retailer, donates childrens clothing to the Salvation Army to be used to clothe homeless children. D3s basis in the clothes is
D3 Corporation, a clothing retailer, donates childrens clothing to the Salvation Army to be used to clothe homeless children. D3s basis in the clothes is $2,000, and the fair market value is $3,000.
What is the amount of the deduction that D3 can claim for the year that the gift was made?
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
17th edition
78025826, 978-1259564239, 1259564231, 978-0078025822
