Business, 23.08.2020 01:01 gallla

Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of $15,000 to the college he attended, which is considered a public charity. Richard has owned the shares for 10 years. 1. How is this contribution treated on Richard's tax return?
2. Assuming his adjusted gross income is at least $50,000, Richard can to deduct $on his Schedule A.
3. However, Richard may elect to use the 50 percent AGI limitation and deduct $.

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Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of...

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