What colleen''s charitable contribution deduction for 2009 is


In 2009, Colleen makes the following charitable donations:

Basis Fair Market Value
Inventory held for resale in Colleen's Business (a sole proprietorship) $14,000 $7,000
Stock in Marco held as an investment (acquired four years ago) $16,000 $30,000
Painting held as an investment (acquired three years ago) $2,000 $15,000

The Macro stock and the inventory were given to Colleen's church, and the painting was given to the United Way. Both donees promptly sold the property for the stated fair market value. Disregarding percentage limitations, what Colleen's charitable contribution deduction for 2009 is ?

 

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Accounting Basics: What colleen''s charitable contribution deduction for 2009 is
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