Zeke made the following donations to qualified charitable or…
Zeke made the following donations to qualified charitable organizations during the year and obtained the documentation required by the tax law: Basis Fair Market Value• Used clothing of taxpayer and his family (all acquired more than a year ago) $ 1,350 $ 375 • Stock in ABC, Inc., held as an investment for 15 months 12,000 10,875 • Stock in MNO, Inc., held as an investment for 11 months 15,000 18,000 • Real estate held as an investment for two years 15,000 30,000 The used clothing was donated to the Salvation Army; the other items of property were donated to Eastern State University. Both are qualified charitable organizations. Disregarding percentage limitations, Zeke’s charitable contribution deduction for the year is: