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:

Infancy

A period in human growth that spans from birth to 24 months, characterized by rapid physical development and cognitive skills acquisition.

Grasp Rattle

describes an early developmental milestone where a baby learns to hold and shake a toy that makes noise.

Neonatal Period

The initial four weeks of a newborn's life, a critical period for adaptation outside the mother's womb.

Independent Existence

A state or condition in which an individual lives or operates without reliance on others for daily needs or decisions.