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?