Hannah Makes the Following Charitable Donations in the Current Year

question 140

Multiple Choice

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

• A)$28,000.
• B)$51,200.
• C)$52,000.
• D)$67,200.
• E)None of the above.

Outline the steps involved when initiating and proceeding with a civil lawsuit.

Discuss the methods and challenges associated with enforcing court judgments.

Understand the concept and implications of "dry" judgments.

Identify the limitations and applications of garnishment in debt recovery.

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Definitions:

On-the-spot Interview

An impromptu or unscheduled interview, usually happening without prior notice, often used in journalism or employment screening.

Doubling

The process of increasing the size, quantity, or value of something by two.

Mirroring

The behavior of closely copying or emulating another person's gestures, speech patterns, or attitudes.

Autodrama

A form of expressive therapy that uses drama and role-playing techniques for the purpose of psychological healing and growth.