Carlos bought stock in year one for 1000 in year three when

Reference no: EM13612368

Carlos bought stock in year one for $1,000. In year three, when the stock is worth $10,000, he donates the stock to Alma Mater Law School. Carlos has $300,000 of adjusted gross income in year three. How much gain does Carlos realize on the contribution and how much does he deduct under §170 in year three? Assume that Carlos is subject to a 35 percent marginal tax rate. What is the after-tax cost to Carlos of donating the stock instead of selling it and using the proceeds for personal consumption?

Reference no: EM13612368

Questions Cloud

You are a medical claims processor for humana claims arrive : you are a medical claims processor for humana. claims arrive at your desk at an average rate of three claims per day

Cconstant specific heats for air at room temperature : a turbojet aircraft is flying with a velocity of 320 ms at an altitude of 9150 m where the ambient conditions are 32

Sam works at the enrico arpaci mens clothing boutique in : sam works at the enrico arpaci mens clothing boutique in beverly hills earning 30000 per year. at work he wears enrico

A proton accelerates from rest in a uniform electric field : a proton accelerates from rest in a uniform electric field of 624 nc. at some later time its speed is 1.04 106 ms.a

Carlos bought stock in year one for 1000 in year three when : carlos bought stock in year one for 1000. in year three when the stock is worth 10000 he donates the stock to alma

Bill owns a sporting goods store if bill contributes : bill owns a sporting goods store. if bill contributes inventory shoes baseballs and so forth with an adjusted basis of

The air is now heated to a final state of 045 m3 and 800 : a frictionless poston-cylinder device initially contains air at 100 kpa and 0.15m3. at this state a linear spring f

In december year one elizabeth phones the aids project of : in december year one elizabeth phones the aids project of los angeles and charges a 1000 donation to the organization

A what is the work done by the field on the electron b what : a uniform electric field of magnitude 430 nc pointing in the positive x-direction acts on an electron which is

User Account

All Pages