Business, 26.11.2019 01:31 jjace0016

Ira cook is planning to make a charitable contribution to the boy scouts of crystal, inc. stock worth $20,000. the stock has an adjusted basis of $15,000. a friend has suggested that ira sell the stock and contribute the $20,000 in proceeds rather than contribute the stock.

a. complete the statements below regarding whether ira should follow the friend's advice. (you may ignore any consideration of limitations to charitable contributions.)

selling the stock would result in a recognized gain of $ for regular income tax purposes. therefore, ira should not follow the friend's advice.

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a donor can achieve several tax advantages by making gifts of appreciated property.

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