Reference no: EM13718806
Compute the answer of all part of the given question
Question- Liz had AGI of $130,000 in 2014. She donated Bluebird Corporation stock with a basis of $10,000 to a qualified charitable organization on July 5, 2014.
Part 1- What is the amount of Liz's deduction assuming that she purchased the stock on December 3, 2013, and the stock had a fair market value of $17,000 when she made the donation?
Part 2- Assume the same facts as in (part 1), except that Liz purchased the stock on July 1, 2011.
Part 3- Assume the same facts as in (part 1), except that the stock had a fair market value of $7,500 (rather than $17,000) when Liz donated it to the charity.
I want experts help to calculate the amount of Liz's deduction.