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
12,000
10,875
Stock in MNO,Inc. ,held as an investment for eleven months
15,000
18,000
Real estate held as an investment for two years
15,000
30,000

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.

Question

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
12,000
10,875
Stock in MNO,Inc. ,held as an investment for eleven months
15,000
18,000
Real estate held as an investment for two years
15,000
30,000
​
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.

Quizplus · Accepted Answer

The Answer of 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
12,000
10,875
Stock in MNO,Inc. ,held as an investment for eleven months
15,000
18,000
Real estate held as an investment for two years
15,000
30,000
​
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.

Zeke Made the Following Donations to Qualified Charitable Organizations During