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What is Donna charitable contribution deduction

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Reference no: EM132658127

Problem - Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2019. She purchased the stock for $18,100 on December 28, 2018, and it had a fair market value of $27,000 when she made the donation.

Required -

a. What is Donna's charitable contribution deduction?

b. Assume instead that the stock had a fair market value of $15,000 (rather than $27,000) when it was donated to the American Red Cross. What is Donna's charitable contribution deduction?

Reference no: EM132658127

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