Question
During 2021, Charlie made the following contributions to his church: Cash $60,000 Stock in Seagull Corporation $40,000 The stock in Seagull Corporation was acquired as
During 2021, Charlie made the following contributions to his church:
| Cash | $60,000 |
| Stock in Seagull Corporation | $40,000 |
The stock in Seagull Corporation was acquired as an investment three years ago at a cost of $20,000. Charlies AGI for 2021 is $120,000. What is Charlies charitable contribution deduction for 2021?
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
