Smokey Purchases Undeveloped Land in 1999 for $20,000

question 15

Multiple Choice

Smokey purchases undeveloped land in 1999 for $20,000. In the current year he contributes the property to the Camp Fire Girls of America to use as their summer camp. The fair market value of the land at the date of the contribution is $25,000. If Smokey's AGI is $100,000, what is his maximum deductible charitable contribution?

• A)$5,000
• B)$20,000
• C)$25,000
• D)$30,000
• E)$50,000

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Definitions:

Chronemics

The study of how time is used in communication and how it affects interpersonal relationships.

Paraverbal Communication

The aspects of spoken communication that do not involve words, such as pitch, tone, and speed of speaking.

Kinesics

The study of the way in which certain body movements and gestures serve as a form of non-verbal communication.

Eye Contact

The act of looking directly into another person's eyes, which can communicate attention, interest, or confidence.