ACC 2205 Mel made the following donations to charity during the year

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January 7th, 2018

Mel made the following donations to charity during the year: The used clothing was donated to the Salvation Army; the other items of property were donated to a Methodist Church seminary.BasisFair Market ValueUsed clothing of taxpayer and his family$ 900$ 300Stock in IBM held as an investment for 13 months5,0007,000Stock in Microsoft held as an investment for 9 months9,00010,000Real estate held as an investment for 6 years10,00025,000Disregarding percentage limitations, Mel’s charitable contribution deduction for the year is:$43,300.$42,900.$41,300.$26,300.None of the above.

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