Donna donates stock in Chipper Corporation to the American Red Cross on September $10,2023.$ She purchased the stock for $$27,650$ on

December $28,2022,$ and it had a fair market value of $$39,500$ when she made the donation.

a$.$ What is Donna's charitable contribution deduction?

The stock is treated as

property and Donna's charitable contribution deduction is $

for tax

purposes.

b$.$ Assume instead that the stock had a fair market value of $$23,700($rather than $$39,500)$ when it was donated to the American Red

Cross. What is Donna's charitable contribution deduction?

$

c$.$ What documentation should you request from Donna to confirm the amount of her charitable contribution deduction?

Donna needs to have documentation that the stock

donated, the date and the value at that date. In addition, because the

donation is over $,$ she must have a contemporaneous written acknowledgment from the charity.