Charitable Contributions of Goods and Property to a Qualifying Organization

question 5

True/False

Charitable contributions of goods and property to a qualifying organization should be valued at fair market value when used as an itemized deduction.

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Definitions:

Platelets

Cell fragments in vertebrate blood that function in clotting; also called thrombocytes.

Erythrocytes

Red blood cells that transport oxygen from the lungs to tissues throughout the body and return carbon dioxide back to the lungs for exhalation.

Leukocytes

White blood cells; colorless amoeboid cells that defend the body against disease-causing organisms.

Hemoglobin

A protein in red blood cells responsible for transporting oxygen from the lungs to the rest of the body and carbon dioxide back to the lungs.