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How is this contribution treated on Richard tax return

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Problem - Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of $15,000 to the college he attended, which is considered a public charity. Richard has owned the shares for 10 years. How is this contribution treated on Richard's tax return?

Reference no: EM132704329

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How is this contribution treated on Richard tax return : Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of $15,000. How is contribution treated on Richard tax return
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