Answer:
a)$27,000
b)$32,000
c)$130,000
Explanation:
a) In case of business inventory donation,the charitable contribution deduction will be lesser of:
i) Basic × 2 = (24,000×2)= 48,000
ii) Basic +(FMV-Basic)× 50% = (24,000) +(30,000 -24,000)×50%= $27,000
It is standardized.No further explanation require
b)Since intangible property gets the FMV(Fair Market Value).Stock is considered capital gain or investment property,Therefore value at FMV.
It is standardized, no further explanation required.
c)since it is a capital gain or investment property.Therefore value at FMV,
It is standardized no further explanation required
