What is janas maximum deduction if the property is ordinary


Jana gives property worth $54,000 to her alma mater during the current year. She purchased the property several years ago for $32,000.

  • What is Jana's maximum deduction if the property is ordinary income property?
  • What is Jana's maximum deduction if the property is long-term capital gain property?
  • How would your answers change if Jana's adjusted gross income were $60,000?

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