Linda who has agi of 120000 in 2013 contributes stock in, Ask an Expert

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Linda, who has AGI of 120,000 in 2013, contributes stock in Mauve Corporation (a publicly traded corporation) to the Salvation Army, a qualified charitable organization. The stock is worth $65,000, and Linda acquired it as an investment four years ago at a cost of $50,000.

a) What is the total amount that Linda can deduct as a charitable contribution, assuming she carries over any disallowed contribution from 2013 to future years?

b) What is the maximum amount that Linda can deduct as a charitable contribution in 2013?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91347962

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