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Question 10 On April 1, 2022, Hillary donated stock with a fair market value of $60,000 to the United Charity Fund, a qualified charitable organization.

Question 10

On April 1, 2022, Hillary donated stock with a fair market value of $60,000 to the United Charity Fund, a qualified charitable organization. She purchased the stock on February 1, 2015, for $20,000. Her AGI for 2022 is $100,000. How much can she claim as a charitable deduction in 2022?

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Steve's house was destroyed in a tornado in 2022. He purchased the house for $150,000 in September 2012. The fair market value of the house before the tornado was $400,000 and the fair market value after the tornado was $200,000. His AGI for 2022 was $100,000. The President declared his town as a disaster area because of the tornado. How much can he deduct as a casualty loss in 2022?

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Mike purchased four $100 tickets to a fund-raising dinner sponsored by the New York Public Library, a qualified charitable organization. The cost of the dinner was $25. How much can he deduct as a charitable contribution?

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