Question
In 2019 Ron and Hermione made the following contributions to the following organizations. Charity Property Cost FMV Goodwill Clothes and misc. household items (several years
In 2019 Ron and Hermione made the following contributions to the following organizations.
Charity
Property
Cost
FMV
Goodwill
Clothes and misc.
household items
(several years old)
$15,700
$4,350
Civil War Museum
Coin Collection
$19,500
$92,700
Ron and Hermione's best
friends whose house burned
down
Cash
$3,500
$3,500
Salvation Army
Cash
$12,500
$12,500
Toys for Tots
New toys
$2,500
$2,500
Henry Ford Hospital
Rigor stock
$14,000
$6,000
Wayne State University
Exxon Mobil Stock
(held 5 years)
$17,500
$42,800
Wayne State University
Cash
55,000
$55,000
Determine the maximum amount of charitable deduction for each of these categories -
ignoring
any AGI
ceiling
on charitable contributions - and assuming that the Historical Museum plans to display the coin
collection in the museum.
Category
Amount
60%
50%
30%
Determine Ron and Hermione's maximum deductible charitable contribution (and any carryover) assuming
their AGI is $200,000.
Category
Amount
60%
50%
30%
Carryover
Determine Ron and Hermione's maximum deductible charitable contribution (and any carryover) assuming
their AGI is $350,000.
Category
Amount
60%
50%
30%
Carryover
Show Work for any potential partial credit
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