Hannah Makes the Following Charitable Donations in the Current Year

question 45

Multiple Choice

Hannah makes the following charitable donations in the current year:
$\begin{array}{llr}& \text {Basis}&\text {Fair Market Value}\\ \text { Inventory held for resale in Hannah's business } &\\ \text {(a sole proprietorship) } &\$8,000&\$7,200\\ \text { Stock in HBM, Inc., held as an investment (acquired } &\\ \text {four years ago) } &16,000&40,000\\ \text {Baseball card collection held as an investment } &\\ \text { (acquired six years ago) } &4,000&20,000\\\end{array}$

The HBM stock and the inventory were given to Hannah's church, and the baseball card collection was given to the United Way. Both donees promptly sold the property for the stated fair market value. Disregarding percentage limitations, Hannah's current charitable contribution deduction is:

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Definitions:

Synaptic Cleft

The small gap between neurons at a synapse, through which neurotransmitters are released to transmit nerve impulses.

Presynaptic Terminal

The end point of a neuron that communicates with another neuron or muscle cell across a synapse, releasing neurotransmitters to transmit nerve impulses.

Sarcolemma

The thin, plasma membrane surrounding a muscle fiber, crucial for muscle contraction and interaction.

Myosin Myofilaments

Thick filaments in muscle cells composed of the protein myosin, playing a central role in muscle contraction by interacting with actin filaments.