What is miguels charitable deduction for 2018

Assignment Help Financial Management
Reference no: EM132319534

Question

Miguel filed an extension for his 2018 tax return. His adjusted gross income in 2018 is $500,000. On December 31, 2018 he donated his Apple stock to his favorite charity. He originally purchased the stock for $50,000 in 2010. The fair market value of the stock at the date he donated it was $1.2 million.

How much must Miguel report as a capital gain in 2018? What is Miguel's charitable deduction for 2018? Explain your answer.

Reference no: EM132319534

Questions Cloud

Capital gain tax regarding historical sculpture : Discuss Barbaras income under the case scenario - Discuss the effect of these arrangement on the assessable income of Patrick
Explain the derivation of the short-run supply curve : Explain the derivation of the Short-Run Supply Curve for a firm in perfect competition.
What is an inflationary gap : 1. What is an inflationary gap? What causes it? What is the Keynesian policy prescription for addressing it?
How you would ethically share data with families : Teachers are constantly collecting data. Sharing this data with families can be done in a variety of ways. Research and share at least two strategies.
What is miguels charitable deduction for 2018 : How much must Miguel report as a capital gain in 2018? What is Miguel's charitable deduction for 2018? Explain your answer.
How would home and school partnerships facilitate learning : What are some cultural factors that might affect English language learning for native English speakers as well as those students for whom English is an addition
View the purpose of a negotiation : Negotiators from different cultures may tend to view the purpose of a negotiation differently. For dealmakers from some cultures, the goal of business
Estimate the amount of interest they can deduct : All the borrowed money will not be used immediately, they deposited the funds in a bank CD and anticipate earning $500,000 in interest income.
Negotiation process in many ways : Culture can influence the negotiation process in many ways, interpretation, language, willingness to compromise.

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd