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:

Procedural Memory

The type of long-term memory that is responsible for knowing how to do things, also known as motor skills.

Speed

The measure of how quickly an object moves from one location to another.

Temperament

An individual's innate personality traits, including their tendencies towards emotional reactivity and intensity, observable from a young age.

Heredity and Environment

The interplay between genetic inheritance and environmental factors in influencing an individual's development and traits.