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In each of the following independent cases, determine the amount of the chantable contribution and the limitation that would apply in each case, assume that

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In each of the following independent cases, determine the amount of the chantable contribution and the limitation that would apply in each case, assume that the donee is a qualified public charity Click the icon to view the independent cases) a. Sally donates a tract of land to a charitable organization. She has held the land for seven years. Her basis in the land is $10,000 and its FMV is $47,000. Contribution amount Limitation x Data table a. Sally donates a tract of land to a charitable organization. She has held the land for seven years. Her basis in the land is $10,000 and its FMV is $47.000 b. Assume the same facts in Parta, except that Sally has held the land for only 11 months and that its FMV is $25,000 c. Josh purchases a historical document for $59,000 He donates the historical document to a charitable organization two years later. The organization plans to use it for research and study. Its FMV at the time of the donation is $101,000 d. Assume the same facts in Partc, except that the organization plans to sell the document and put the money into an endowment fund e. Valerio donates some Inventory to a charitable organization. The inventory is not food or clothing. The inventory is purchased for $350 and its FMV is $750 at the time of the donation. She held the inventory for seven months Print Done

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