Potential percentage limitation


Mazihel contributed some inventory from his sole proprietorship to a public charity for its use. On the date of the contribution, Mazihel's basis in the inventory was $15,000 and the fair market value was $25,000. What is the amount of charitable contribution allowed (before considering any potential percentage limitation)?

a. $0

b. $10,000

c. $15,000

d. $25,000

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Accounting Basics: Potential percentage limitation
Reference No:- TGS038832

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