Question
Don donates a truck that was used in his business to his church in 2019. The truck, which was purchased for $2,500, has an
Don donates a truck that was used in his business to his church in 2019. The truck, which was purchased for $2,500, has an adjusted basis of $810 and a FMV of $1,600 at the time of the contribution. The church sold the truck without using it. Don has a contribution base of $10,000. Compute Don's 2019 contribution deduction.
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South-Western Federal Taxation 2018 Comprehensive
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
41st Edition
1337386006, 978-1337386005
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