Zeke Made the Following Donations to Qualified Charitable Organizations During

question 133

Multiple Choice

Zeke made the following donations to qualified charitable organizations during the year: $$\begin{array} { l r r r } & \text { Basis } & \underline { \text { Fair Market } } \\&& \underline { \text { Value } }\\\begin{array} { l } \text { Used clothing (all acquired more than a year ago) of } \\\text { taxpayer and his family }\end{array} & \$ 1,350 & \$ 375 \\\begin{array} { l } \text { Stock in ABC, Inc., held as an investment for fifteen } \\\text { months }\end{array} & 12,000 & 10,875 \\\begin{array} { l } \text { Stock in MNO, Inc., held as an investment for eleven } \\\text { months }\end{array} & 15,000 & 18,000 \\\text { Real estate held as an investment for two years } & 15,000 & 30,000\end{array}$$ ? The used clothing was donated to the Salvation Army; the other items of property were donated to Eastern State University.Both are qualified charitable organizations.Disregarding percentage limitations, Zeke's charitable contribution deduction for the year is:

• A)$43,350.
• B)$56,250.
• C)$59,250.
• D)$60,375.
• E)None of the above.

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Definitions:

Chytrid Fungi

A group of primitive aquatic fungi that can cause disease in amphibians, leading to significant population declines and extinctions.

Frog Parasite

An organism that lives in or on frogs, deriving its nutrients at the host's expense, often resulting in disease or discomfort for the frog.

Edible Fruiting

The process or quality of bearing fruits that can be safely and nutritionally consumed by humans and animals.

B. Dendrobatidis

A pathogenic fungus causing the deadly disease chytridiomycosis in amphibians, contributing to declines and extinctions of amphibian populations worldwide.