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Zeke Made the Following Donations to Qualified Charitable Organizations During

Question 121

Multiple Choice

Zeke made the following donations to qualified charitable organizations during the year:  Basis  Fair Market  Value  Used clothing (all acquired more than a year ago)  of  taxpayer and his family $1,350$375 Stock in ABC, Inc., held as an investment for fifteen  months 12,00010,875 Stock in MNO, Inc., held as an investment for eleven  months 15,00018,000 Real estate held as an investment for two years 15,00030,000\begin{array} { l r r r } & \text { Basis } & \underline { \text { Fair Market } } \\&& \underline { \text { Value } }\\\begin{array} { l } \text { Used clothing (all acquired more than a year ago) of } \\\text { taxpayer and his family }\end{array} & \$ 1,350 & \$ 375 \\\begin{array} { l } \text { Stock in ABC, Inc., held as an investment for fifteen } \\\text { months }\end{array} & 12,000 & 10,875 \\\begin{array} { l } \text { Stock in MNO, Inc., held as an investment for eleven } \\\text { months }\end{array} & 15,000 & 18,000 \\\text { Real estate held as an investment for two years } & 15,000 & 30,000\end{array} ? The used clothing was donated to the Salvation Army; the other items of property were donated to Eastern State University.Both are qualified charitable organizations.Disregarding percentage limitations, Zeke's charitable contribution deduction for the year is:


A) $43,350.
B) $56,250.
C) $59,250.
D) $60,375.
E) None of the above.

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