Question
This year Sam made charitable contributions to: Donee: Property: Cost: FMV: church IBM stock 15000 25000 Salvation army painting 500 2500 city hospital cash 20000
This year Sam made charitable contributions to:
| Donee: | Property: | Cost: | FMV: |
| church | IBM stock | 15000 | 25000 |
| Salvation army | painting | 500 | 2500 |
| city hospital | cash | 20000 | |
| museum | coins | 5000 | 8000 |
Determine the maximum amount of Sam's charitable deduction assuming Sam's AGI is $100,000 this year. All donees are public charities. You may assume that the stock, coins and painting have been owned for 10 years. The coins are displayed in the museum, and the Salvation Army plans to sell the painting.
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Global Financial Accounting And Reporting Principles And Analysis
Authors: Peter Walton, Walter Aerts
1st Edition
1844802655, 9781844802654
