During the current year, Ralph made the following contributions to the University of Oregon (a qualified charitable organization): $$\begin{array} { l r }
\text { Cash } & \$ 63,000 \
\text { Stock in Raptor, Inc. (a publicly traded corporation) } & 94,500
\end{array}$$ Ralph acquired the stock in Raptor, Inc., as an investment fourteen months ago at a cost of $42,000.Ralph's AGI for the year is $189,000.What is Ralph's charitable contribution deduction for the current year?
A)$56,700
B)$63,000
C)$94,500
D)$157,500
E)None of the above

Question

During the current year, Ralph made the following contributions to the University of Oregon (a qualified charitable organization): $$\begin{array} { l r } 
\text { Cash } & \$ 63,000 \
\text { Stock in Raptor, Inc. (a publicly traded corporation) } & 94,500
\end{array}$$ Ralph acquired the stock in Raptor, Inc., as an investment fourteen months ago at a cost of $42,000.Ralph's AGI for the year is $189,000.What is Ralph's charitable contribution deduction for the current year?
A)$56,700
B)$63,000
C)$94,500
D)$157,500
E)None of the above

Quizplus · Accepted Answer

The Answer of During the current year, Ralph made the following contributions to the University of Oregon (a qualified charitable organization): $$\begin{array} { l r } 
\text { Cash } & \$ 63,000 \
\text { Stock in Raptor, Inc. (a publicly traded corporation) } & 94,500
\end{array}$$ Ralph acquired the stock in Raptor, Inc., as an investment fourteen months ago at a cost of $42,000.Ralph's AGI for the year is $189,000.What is Ralph's charitable contribution deduction for the current year?
A)$56,700
B)$63,000
C)$94,500
D)$157,500
E)None of the above

During the Current Year, Ralph Made the Following Contributions to the University