Mark owned stock in XYZ Inc. Mark donated the stock to a qualified charitable organization on June 1, 2023. Mark purchased the stock on December 18, 2022 for $10,500. The FMV of the stock was $13,800 at the time of the contribution. How much may Mark take as a deduction?
Mark owned stock in XYZ Inc. Mark donated the stock to a qualified charitable organization on June 1, 2023. Mark purchased the stock on December 18, 2022 for $10,500. The FMV of the stock was $13,800 at the time of the contribution. How much may Mark take as a deduction?
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 33P
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Transcribed Image Text:Mark owned stock in XYZ Inc. Mark donated the
stock to a qualified charitable organization on June
1, 2023. Mark purchased the stock on December
18, 2022 for $10,500. The FMV of the stock was
$13,800 at the time of the contribution. How much
may Mark take as a deduction?
O $12,150
O $10,500
O $13,800
O $3,300
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