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This problem involves transfer of property by T, an individual, to Suntan U. and private Foundation both as described in 1, above, in the current
This problem involves transfer of property by T, an individual, to Suntan U. and private Foundation both as described in 1, above, in the current year. Assume that in the current year T has a $200,000 "contribution base," all verification requirements are met, and unless otherwise stated T makes no other charitable gifts. T owns property with a basis of $70,000 and a value of $90,000. If the property is inventory (manufactured equipment) and T con- tributes it to Suntan U., what will T's charitable deduction be? If the property is inventory (manufactured equipment) and T contributes it to Private Foundation, what will T's charitable contribution be? If the property is corporate stock held for more than one year and T's contributes it to Suntan U. what will T's charitable contribution be? Same as (c), above, except the stock has been held only five months. What result under the facts of (c), above, if T exercises the election proffered by 170(b)(1)(C)(iii)? What result if T gives Suntan U. 1250 property which if sold would be subject to $10,000 of 1250 recapture? Same as (c), above, except that the stock was given to Private foundation rather than Suntan U. Assume the stock is not publicly traded. Cf 170(e)(5). Same as (g) above, except that the stock is 170(e)(5) "qualified appreciated stock
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