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Donna donates stock in Chipper Corporation to the American Red Cross on September 10,2021 . She purchased the stock for $23,275 on December 28,2020 ,
Donna donates stock in Chipper Corporation to the American Red Cross on September 10,2021 . She purchased the stock for $23,275 on December 28,2020 , and it had a fair market value of $33,250 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 $19,950 (rather than $33,250 ) when it was donated to the American Red Cross. What is Donna's charitable contribution deduction? $
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