Don's records contain the following information: 1.Donated stock having a fair market value of $3,600 to a qualified charitable organization.He acquired the stock five months previously at a cost of $2,400.
2)Paid $700 to a church school as a requirement for the enrollment of his daughter.
3)Paid $200 for annual homeowner's association dues.
4)Drove 400 miles in his personal auto.The travel was directly related to volunteer services he performed for his church (actual costs were not available).
A)$2,456
B)$3,156
C)$3,356
D)$3,656

Question

Quizplus · Accepted Answer

The correct answer is A because the only deductible amount is the fair market value of the donated stock, which is $3,600.

Don's Records Contain the Following Information: 1