Ramon had AGI of $180,000 in 2015. He is considering making a charitable contribution this year to the American Heart Association, a qualified charitable organization.
Determine the current allowable charitable contribution deduction in each of the following independent situations, and indicate the treatment for any amount that is not deductible currently.
a. A cash gift of $95,000. The cash gift of $ is fully deductible as a charitable contribution. However, in the current year, Ramon's deduction is limited to $. The remaining $_ can be carried forward for five years.
b. A gift of OakCo stock worth $95,000 on the contribution date. Ramon had acquired the stock as an investment two years ago at a cost of $84,000. Ramon's value for the contribution is $, the fair market value of the stock. The deduction for 2015 is limited to . The remaining $ can be carried forward for five years.
c. A gift of a painting worth $95,000 that Ramon purchased three years ago for $60,000. The charity has indicated that it would sell the painting to generate cash to fund medical research. The contribution is valued at $. The amount is fully deductible in the current year because the gift is (above/below) the applicable _%of AGI limitation.
Answers: 3
Another question on Business
Business, 21.06.2019 21:30
The following information relates to wagner, inc.: advertising costs $ 18 comma 600 administrative salaries 17 comma 800 delivery vehicle depreciation 1 comma 500 factory repair and maintenance 600 indirect labor 10 comma 000 indirect materials 18 comma 000 manufacturing equipment depreciation 3 comma 000 office rent 58 comma 000 president's salary 1 comma 100 sales revenue 600 comma 000 sales salary 5 comma 200 how much were wagner's period costs
Answers: 3
Business, 22.06.2019 16:30
Bernard made a gift of $500,000 to his brother in 2014. due to bernard’s prior taxable gifts he paid $200,000 of gift tax. when bernard died in 2019, the applicable gift tax credit had increased. at bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?
Answers: 3
Business, 22.06.2019 17:30
Emery pharmaceutical uses an unstable chemical compound that must be kept in an environment where both temperature and humidity can be controlled. emery uses 825 pounds per month of the chemical, estimates the holding cost to be 50% of the purchase price (because of spoilage), and estimates order costs to be $48 per order. the cost schedules of two suppliers are as follows: vendor 1 vendor 2 quantity price/lb quantity price/lb 1-499 $17 1-399 $17.10 500-999 $16.75 400-799 $16.85 1000+ $16.50 800-1199 $16.60 1200+ $16.25 (a) what is the economic order quantity for each supplier? (b) what quantity should be ordered and which supplier should be used? (c) the total cost for the most economic order sire is $
Answers: 2
Business, 22.06.2019 19:50
The common stock and debt of northern sludge are valued at $65 million and $35 million, respectively. investors currently require a return of 15.9% on the common stock and a return of 7.8% on the debt. if northern sludge issues an additional $14 million of common stock and uses this money to retire debt, what happens to the expected return on the stock? assume that the change in capital structure does not affect the interest rate on northern’s debt and that there are no taxes.
Answers: 2
You know the right answer?
Ramon had AGI of $180,000 in 2015. He is considering making a charitable contribution this year to t...
Questions
Mathematics, 31.12.2019 18:31
Mathematics, 31.12.2019 19:31
Mathematics, 31.12.2019 19:31
Geography, 31.12.2019 19:31
Mathematics, 31.12.2019 19:31
