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Fuscia Corporation donates the following property to the State University in the current year: Fuscia Corporation's taxable income before any charitable contributions deduction or dividends-received

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Fuscia Corporation donates the following property to the State University in the current year: Fuscia Corporation's taxable income before any charitable contributions deduction or dividends-received deduction is $1,500,000. Read the requirements. Requirement a. What is Fuscia Corporation's charitable contributions deduction for the current year? Begin by completing the table below to determine the amount deductible for each donation. Fuscia Corporation's charitable contributions deduction for the current year = Requirement b. What is the amount of its charitable contributions carryover (if any)? (If there is no charitable contributions carryover, enter a 0. ) Fuscia Corporation's charitable contributions carryover = Property Information - ABC Corporation stock purchased two years ago for $20,000. The stock, which trades on a regional stock exchange, has a $31,000FMV on the contribution date. - Inventory with a $24,000 adjusted basis and a $32,000FMV. State will use the inventory for scientific research that qualifies under the special Sec. 170(e)(4) rules. - An antique vase purchased two years ago for $29,000 and having a( n) $28,000FMV. State University plans to sell the vase to obtain funds for educational purposes

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