Zeke made the following donations to qualified charitable organizations during the year. Donation Basis Fair...
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Zeke made the following donations to qualified charitable organizations during the year. Donation Basis Fair Market Value Used clothing (all acquired at least 18 months ago) of taxpayer and his family $2,350 $675 Stock in ABC Inc. held as an investment for 15 months $15,000 $12,875 Stock in MNO Inc. held as an investment for 11 months $12,000 $20,000 Real estate held as an investment for 2 years $20,000 $35,000 The used clothing was donated to the Salvation Army; the other items of property were donated to Eastern State University. Both are qualified charitable organizations. Disregarding percentage limitations, Zeke's current charitable contribution deduction is
a. $55,225
b. $60,550
c. $70,025
d. $72,130
e. None of the above
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