Ronald Donates Publicly Traded Microsystems Stock with a Basis of $2,000

question 34

Essay

Ronald donates publicly traded Microsystems stock with a basis of $2,000 and a fair market value of $20,000 to the local library, which is considered a public charity. Ronald has $30,000 of adjusted gross income, and he purchased the stock 15 years ago. How is this contribution treated on Ronald's tax return?

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Definitions:

Patriarchy

A social system in which men hold primary power and predominate in roles of political leadership, moral authority, social privilege, and control of property.

Ontarians

Residents or natives of Ontario, which is a province located in east-central Canada.

Curriculum Changes

Adjustments or revisions made to the content, structure, or delivery of educational materials and courses.

Polyamory

The state of being in love, or romantically involved with, more than one person at the same time.