Jesse contributes land to the Salvation Army for use as a future site for a new building. His AGI is $200,000. Jesse paid $20,000 for the land ten months ago but its market value at the date of contribution is $25,000. With no special elections, Jesse's deductible contribution this year is OA) $7,000. B) $18,000. OC) $20,000. D) $25,000. QUESTION 2 Which of the following is not a deductible "trade or business" expense? A) interest on business indebtedness ol B) property taxes on business property C) parking ticket paid on business auto D) depreciation on business property QUESTION 3 Donald sells stock with an adjusted basis of $38,000 to his son, Kiefer, for its fair market value of $30,000. Kiefer sells the stock three years later for $32,000. Kiefer will recognize a gain on the subsequent sale of Click Save and Submit to save and submit. Click Save All Answers to save all answers. ^ ! 1 F1 Q A 2 N ** F2 W S #3 20 F3 X I option command E D $ 4 000 800 F4 C R F % 5 F5 T V MacBook Air 6 G F6 Y B & 7 H F7 U N *