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pshichka [43]
3 years ago
7

Carly donated inventory (ordinary income property) to a church. She purchased the inventory last month for $100,000, and on the

date of the gift, it had a fair market value of $92,000. What is her maximum charitable contribution deduction for the year related to this inventory if her AGI is $200,000?
Business
1 answer:
MissTica3 years ago
8 0

Answer:

$92,00

Explanation:

Base on the scenario been described in the question which we saw how Carly donated an to the church, when she purchased the gift, it was $100,000 but when she is to present the gift to the church, the fair market value became $92,000 which is her maximum charitable contribution deduction

the charitable deduction for ordinary income property is the lesser of fmv or basis limited to 50% of AGI

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1 year ago
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mylen [45]

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Mi familia y yo fuimo al cine y noscoperamo papra la entrada que fue $245 si mi hermana dio 1/5 del total mientras yo di 4/10 y
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Explanation:

translation from spanish to english: My family and I went to the movies and we collected for the entrance that was $ 245 if my sister gave 1/5 of the total while I gave 4/10 and my father gave the rest how much money each one contributed.

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la parte superior es la respuesta, espero que esté bien.

english:

the top is the answer, hope it was right.

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