Uses the equipment in its exempt function

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Reference no: EM131263885

Clayton owns equipment with an acquisition cost of $700,000, an adjusted basis of $250,000, and a FMV of $450,000. Clayton contributes the equipment to a charity that uses the equipment in its exempt function.

Without considering any limitations due to his AGI, what amount of charitable contribution may Clayton claim as a deduction.

Reference no: EM131263885

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