Question
Required information [The following information applies to the questions displayed below.] In addition to cash contributions to charity, Dean decided to donate shares of stock
Required information
[The following information applies to the questions displayed below.]
In addition to cash contributions to charity, Dean decided to donate shares of stock and a portrait painted during the earlier part of the last century. Dean purchased the stock and portrait many years ago as investments. Dean reported the following recipients:
| Charity | Property | Cost | FMV | |||
| State University | Cash | $ | 16,000 | $ | 16,000 | |
| Red Cross | Cash | 15,000 | 15,000 | |||
| State History Museum | Painting | 5,100 | 86,000 | |||
| City Medical Center | Dell stock | 38,000 | 27,000 | |||
|
| ||||||
a. Determine the maximum amount of charitable deduction for each of these contributions ignoring the AGI ceiling on charitable contributions.
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Entrepreneurship
Authors: Andrew Zacharakis, William D Bygrave
5th Edition
1119563097, 9781119563099
