Question
Kelly, who has AGI of $250,000, owns stock in Blue corporation with a basis of $20,000. he donates the stock to a qualified charitable organization
Kelly, who has AGI of $250,000, owns stock in Blue corporation with a basis of $20,000. he donates the stock to a qualified charitable organization on July 5, 2018 A.) what is the amount of Kelley's charitable contribution deduction, assuming that he purchased the stock on March 4, 2018 and the stock had a fair market value of $27,000 when he made the donation> B.) Assume the same facts as in a., except that kelly purchased the sock on August 8, 2016 C.) Assume the same facts as in a., except that the stock had a fair market value of $15,500 (rather than $27,000) when Kelly donated it to the charity.
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