Zeke made the following donations to qualified charitable organizations during the year: Basis Fair Market Value Used clothing (all acquired more than a year ago) of taxpayer and his family $1,350 $375 Stock in ABC, Inc., held as an investment for fifteen months 12,000 10,875 Stock in MNO, Inc., held as an investment for eleven months 15,000 18,000 Real estate held as an investment for two years 15,000 30,000 The used clothing was donated to the Salvation Army; the other items of property were donated to Eastern State University. Both are qualified charitable organizations. Disregarding percentage limitations, Zeke's charitable contribution deduction for the year is: a.$43,350. b.$59,250. c.$60,375. d.$56,250. e. None of these choices are correct.
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Home » Business » Zeke made the following donations to qualified charitable organizations during the year: Basis Fair Market Value Used clothing (all acquired more than a year ago) of taxpayer and his family $1,350 $375 Stock in ABC, Inc.