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Business, 06.08.2021 16:30 wolfyrainECT

In December of each year, Eleanor Young contributes 10% of her gross income to the United Way (a 50% organization). Eleanor, who is in the 24% marginal tax bracket, is considering the following alternatives for satisfying the contribution. Fair Market Value
(1) Cash donation $152,200
(2) Unimproved land held for six years ($22,830 basis) $152,200
(3) Blue Corporation stock held for eight months ($22,830 basis) $152,200
(4) Gold Corporation stock held for two years ($182,640 basis) $152,200

Eleanor has asked you to help her decide which of the potential contributions listed above will be most advantageous tax-wise. Evaluate the four alternatives and complete a letter to Eleanor.

Required:
Determine the amount of the charitable contribution for each option.

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In December of each year, Eleanor Young contributes 10% of her gross income to the United Way (a 50%...
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