Zerotech Corporation Donates the Following Property to an Elementary School

question 8

Essay

Zerotech Corporation donates the following property to an elementary school:
• Computer printer purchased three years ago for $1,000. The printer has a $500 FMV and $0 adjusted basis on contribution date.
• Computer equipment acquired one year ago at a cost of $5,000. The equipment has an $8,000 FMV and $0 adjusted basis on contribution date.
• Computer software acquired two months ago at a cost of $10,000. The software will be used in a prekindergarten program. Its FMV on the contribution date is $10,000 and it has an adjusted basis of $0.
a)Identify any donation qualifying for special treatment.
b)What is Zerotech's charitable contribution deduction?

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Definitions:

Young Adulthood

A developmental phase following adolescence, typically covering the ages 18-40, focusing on forming intimate relationships, pursuing a career, and establishing a personal and financial identity.

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Child Care

The provision of care, education, and supervision of a child or children, typically by someone other than the child's legal guardians.

Third Party

An entity that is involved in a situation or transaction but is not one of the principal parties.