Business, 01.07.2019 21:30 hbked23

Steve made the following transfers during the year: $10,000 to louisiana state university. the $10,000 contribution allows him to purchase football season tickets. steve also bought the football season tickets at a cost of $5,000. $400 to the local public broadcast television station during the annual fund drive. in return for the $400 contribution, steve received a mug and pen with the station’s logo valued at $8. 1,000 shares of abc stock to the united way. at the date of the contribution, the stock had a fair market value of $50 per share. steve’s adjusted taxable basis in the stock was $10 per share and he held the stock long term. ignoring any agi limitations, what is steve’s maximum charitable income tax deduction for this year? $18,400. $20,392 $55,392. $58,400.

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Steve made the following transfers during the year: $10,000 to louisiana state university. the $10,...

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