Reference no: EM132973452

Question - In 2019, Susan makes the following donations to a 50% qualified charitable organizations: Adj. Basis Fair Market Value Inventory held for resale in Susan's business (a sole proprietorship) $18,000 $ 35,000 Stock in ABC, Inc. held as an investment (acquired two years ago) 20,000 41,000 Comic book collection held as an investment (acquired six years ago) 4,000 15,000 The ABC stock and the inventory were given to Susan's church, and the comic book collection was given to the United Way. Disregarding percentage limitations, Roseanne's charitable contribution deduction for 2019 is: Assuming the limitation for charitable donation is 50%, 30%, and 20% and assuming that Susan's 2019 adjusted gross income is $100,000, determine the amount of her gift and the amount of her tax deduction.