Carl Purchased a Machine for Use in His Trade or Business

question 43

Multiple Choice

Carl purchased a machine for use in his trade or business two years ago for $30,000.During the current year,Carl donates the machine to the local community college.At the time of the contribution,the machine's adjusted basis is $10,000 and its FMV is $15,000.Carl's AGI for the year is $48,000.What is the amount of his charitable contribution deduction?

• A)$10,000
• B)$14,000
• C)$15,000
• D)$25,000

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Definitions:

Behavior

The way in which one acts or conducts oneself, especially towards others, influenced by a combination of internal and external factors.

Stem Cells

Unique primitive cells that have the capacity to develop into most types of human cells.

Brain-Tissue Implants

A medical or scientific procedure that involves inserting natural or artificial brain tissue into an individual's brain to repair damage or enhance function.

Human Cells

The basic structural, functional, and biological units of all living organisms; the building blocks of the human body.