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In the current year, Crow Corporation, a corporation, donated scientific property (basis of $20,000, fait market value of $50,000) to state University, a qualified charitable

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In the current year, Crow Corporation, a corporation, donated scientific property (basis of $20,000, fait market value of $50,000) to state University, a qualified charitable organization, to be used in research. Crow had held the property for four months as inventory. Crow Corporation may deduct $50,000 for the charitable contribution (ignoring the taxable income limitation). True False

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