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Red Corp., a C corporation, wants to make a donation to a public charity in...

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Accounting

Red Corp., a C corporation, wants to make a donation to a public charity in 2020 to generate a tax deduction. Before any charitable contribution deduction, Red Corp will have taxable income of $400,000 (no DRD and no NOL carryovers) in 2020. Red Corp. is deciding between donating one of the following: $50,000 cash Capital gain property (stock) worth $30,000; AB = $10,000 Old inventory worth $20,000; AB = $30,000 What would Red Corp.s 2020 charitable contribution deduction be if Red Corp. donated the cash?

What would Red Corp.s 2020 charitable contribution deduction be if Red Corp. donated the stock?

What would Red Corp.s 2020 charitable contribution deduction be if Red Corp. donated the inventory?

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