Question

Hannah makes the following charitable contributions during the year:

	Basis	FMV
Inventory held for resale in her business (a sole proprietorship)	$8,000	$7,200
Stock in HBM, Inc., held as an investment (purchased four years ago)	16,000	40,000
Baseball card collection held as an investment (acquired six years ago)	4,000	20,000

The HBM stock and the inventory were given to Hannah’s church (qualifying organization), and the baseball card collection was given to the United Way (a qualifying charity). Both donees promptly sold the property for the stated fair market value.

Disregarding percentage limitations, Hannah’s current maximum charitable contribution deduction is (how much does she get as a charitable contribution for each item above?):

Answer 1

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