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How much is Barbara charitable contribution deduction

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Problem - Barbara donates a painting that she purchased three years ago for $8,000, to a university for display in the president's office. The fair market value of the painting on the date of the gift is $14,000. If Barbara had sold the painting, the difference between the sales price and her cost would have been a long-term capital gain. How much is Barbara's charitable contribution deduction for this donation? Explain.

Reference no: EM132704327

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