Stock Donation: Value of Contribution (LO. 6) Rachel had AGI of $100,000 in 2012

Question

Stock Donation: Value of Contribution (LO. 6)

Rachel had AGI of $100,000 in 2012. She donated Bronze Corporation stock with a basis of $9,000 to a qualified charitable organization on July 5, 2012.

a. What is the amount of Rachel's deduction assuming that she purchased the stock on December 2, 2011, and the stock had a fair market value of $16,000 when she made the donation?
Rachel's deduction is $.

b. Assuming that she purchased the stock on July 1, 2009, and the stock had a fair market value of $16,000 when she made the donation, Rachel's deduction is $.

c. Assuming that she purchased the stock on December 2, 2011, and the stock had a fair market value of $5,000 when she made the donation to the charity, Rachel's deduction is $.

Explanation / Answer

A) 9000

B) 16,000

C) 5000

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