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What is donna charitable contribution deduction

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Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2019. She purchased the stock for 524,675 on December 28, 2018, and it had a fair market value of $35,250 when she made the donation.

Question a. What is Donna% charitable contribution deduction? The stock is treated as ordinary income vi property and Donna's charitable contribution deduction is $1 24,675 for tax purposes.

Question b. Assume instead that the stock had a fair market value of $21,150 (rather than $35,250) when it was donated to the American Red Cross. hat is Donna's charitable contribution deduction?

Reference no: EM132465777

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