Red Corp., a C corporation, wants to make a donation to a public charity in 2022 to generate a tax deduction (i.e. you do not need to apply the special rules for charitable contributions that apply in 2020/2021). Before any charitable contribution deduction, Red Corp will have taxable income of $300,000 (no DRD and no NOL carryovers) in 2022. Red Corp. is deciding between donating one of the following:

• $50,000 cash
• Capital gain property (stock) worth $20,000; AB = $15,000
• Old inventory worth $15,000; AB = $20,000

What would Red Corp.’s 2022 charitable contribution deduction be if Red Corp. donated the cash?

What would Red Corp.’s 2022 charitable contribution deduction be if Red Corp. donated the stock?

What would Red Corp.’s 2022 charitable contribution deduction be if Red Corp. donated the inventory?