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

---

Definitions:

Endocrine System

A collection of glands that produce hormones to regulate processes such as growth, metabolism, and reproduction.

Blood Cell Production

Blood cell production, or hematopoiesis, is the process by which new blood cells are produced in the body, occurring in the bone marrow.

Mineral Storage

The accumulation and retention of minerals in certain body tissues, which can serve various functions including structural support and enzymatic activity.

Skeleton Functions

The primary roles of the skeletal system, including providing structure to the body, facilitating movement, and protecting internal organs.