MsBjorn's Only Contribution This Year Was a Donation of Marketable

question 78

Multiple Choice

Ms.Bjorn's only contribution this year was a donation of marketable securities (FMV $600,000; tax basis $273,000) to a public charity.Her AGI was $814,000.Which of the following statements is true?

• A)Ms.Bjorn's charitable contribution deduction is limited to $407,000,and she has a $193,000 contribution carryover to future years.
• B)Ms.Bjorn's charitable contribution deduction is $273,000.
• C)Ms.Bjorn's charitable contribution deduction is limited to $407,000.The $193,000 nondeductible amount will never result in a tax benefit.
• D)Ms.Bjorn's charitable contribution deduction is $600,000.

---

Definitions:

Preset Time

A predetermined period set in a system or device before an action or process is initiated or completed.

Timer

"In relay-panel hardware, an electromechanical device that can be wired and preset to control the operating interval of other devices. In a programmable logic controller, a timer is internal to the processor; that is, it is controlled by a user-programmed instruction."

Processor

A processor, in a computing context, is a component within an electronic device that interprets and executes instructions, acting as the 'brain' of the system.

Masked Move Instruction

In programming, it refers to an operation that selectively modifies bits in a destination location, based on the pattern of bits in a given mask.