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Liz had AGI of $130,000 in 2019. She donated Bluebird Corporation stock with a basis of $10,000 to a qualified charitable organization on July 5,
Liz had AGI of $130,000 in 2019. She donated Bluebird Corporation stock with a basis of $10,000 to a qualified charitable organization on July 5, 2019. a. What is the amount of Lizs deduction assuming that she purchased the stock on December 3, 2018, and the stock had a fair market value of $17,000 when she made the donation? b. Assume the same facts as in part (a), except that Liz purchased the stock on July 1, 2016. c. Assume the same facts as in part (a), except that the stock had a fair market value of $7,500 (rather than $17,000) when Liz donated it to the charity.
Liz had AGI of $130,000 in 2019. She donated Bluebird Corporation stock with a basis of $10,000 to a qualified charitable organization on July 5, 2019.
a. What is the amount of Lizs deduction assuming that she purchased the stock on December 3, 2018, and the stock had a fair market value of $17,000 when she made the donation?
b. Assume the same facts as in part (a), except that Liz purchased the stock on July 1, 2016.
c. Assume the same facts as in part (a), except that the stock had a fair market value of $7,500 (rather than $17,000) when Liz donated it to the charity.
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Quality Audits Are Fun Journal Notes Checklists Questions Observations Evidence Log
Authors: Just Visualize It, The Quality Guy
1st Edition
1726628981, 978-1726628983
