Carl Purchased a Machine for Use in His Trade or Business

question 854

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

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Definitions:

Persuasive Memos

Written communications intended to influence or convince the reader about a particular action or decision.

Routine Messages

Standard or repetitive communications that convey regular, day-to-day information within the operations of an organization or between individuals.

Natural Resistance

Natural resistance refers to the innate ability of an organism to fend off diseases, pests, or various environmental stresses without the assistance of modern scientific methods.

Central Selling Feature

A key attribute or benefit of a product that sets it apart from its competitors and is emphasized in marketing efforts.