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Logan donates stock he held for 5 months to his church. The fair market value of the stock on the day he donates it is
Logan donates stock he held for 5 months to his church. The fair market value of the stock on the day he donates it is $1,000, but he only paid $800 (his basis). Thus, Logans charitable contribution deduction is what amount?
A. $300B. $500C. $800D. $1,000
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Auditing
Authors: Allan Millichamp, John Taylor
9th Edition
1844809404, 978-1844809400
