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QUESTION 48 Fran, whose adjusted gross income (AGI) for the year is $85,000, makes the following donations in the current year: Used clothes and household
QUESTION 48 Fran, whose adjusted gross income (AGI) for the year is $85,000, makes the following donations in the current year: Used clothes and household items to Goodwill Industries --- cost = $6,000, fair value = $2,000 Microsoft stock, held two years, to University of Houston --- cost = $10,000, fair value = $26,000 What is Fran's maximum charitable contribution deduction for the current year? $28,000 $27,500 $19,000 $17,000 O $16,000
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