In the Current Year, Crow Corporation, a C Corporation, Donated

question 130

True/False

In the current year, Crow Corporation, a C corporation, donated scientific property (basis of $30,000, fair market value of $50,000) to State University, a qualified charitable organization, to be used in research. Crow had held the property for four months as inventory. Crow Corporation may deduct $50,000 for the charitable contribution (ignoring the taxable income limitation).

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Definitions:

Extra Supports

Methods or resources provided to individuals or groups to help them overcome challenges and succeed.

Community

A group of people living in the same place or having a particular characteristic in common, often sharing a sense of belonging or mutual support.

Motivated

Having a strong desire or willingness to do something or achieve a particular goal.

External Rewards

Rewards that are provided by an external source, such as money, praise, or awards, rather than internal satisfaction.