Question
On January 1, 2020, Kroger Company (a grocery retailer) donates meat and vegetables (purchased December 30, 2019) to the Salvation Army food kitchen to help
On January 1, 2020, Kroger Company (a grocery retailer) donates meat and vegetables (purchased December 30, 2019) to the Salvation Army food kitchen to help feed the needy during the winter season. The basis of the food was $30,000, and the retail value was $62,000. Applying the enhanced deduction rule for donations of inventory for the care of the needy, infants, or the ill, how much is Kroger's contribution deduction before considering any limitation?
| A. | $30,000 | ||
| B. | $46,000 | ||
| C. | $60,000 | ||
| D. | $62,000 |
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Bitcoin Mining The New Gold Rush Bitcoin Mining Is The Future
Authors: Sam Sutton
1st Edition
1985654717, 978-1985654716
