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Margaret has a collection of rare books that she purchased 10 years ago for $12,100 and are now worth $21,000. In the current year, Margaret
Margaret has a collection of rare books that she purchased 10 years ago for $12,100 and are now worth $21,000. In the current year, Margaret contributes the books to the Harold Washington Library in Chicago. Assume Margaret has an AGI of $100,000. If the library uses the books for its intended purpose, what is Margaret's charitable contribution deduction? Deduction $ If the library sells the books, what is Margaret's charitable contribution deduction?
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Scenario 1 Library Uses Books for Intended Purpose In this case Margarets charitable contributio...
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Federal Taxation 2017 Comprehensive
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
30th Edition
134420640, 978-0134421438, 134421434, 978-0134420646
