Adrian contributed an antique vase she had owned for 25 years to a museum. At the time of the donation, the vase had a value of $39,250. The museum displayed this vase in the art gallery. a. Assume that Adrian's AGI is $78,000, and her basis in the vase is $19,250. How much may Adrian deduct? b. How would your answer change to Part A if, instead of displaying the vase, the museum sold the vase to an antique dealer? a. b. Charitable contribution deduction

Adrian contributed an antique vase she had owned for 25 years to a museum. At the time of the donation, the vase had a value of $39,250. The museum displayed this vase in the art gallery. a. Assume that Adrian's AGI is $78,000, and her basis in the vase is $19,250. How much may Adrian deduct? b. How would your answer change to Part A if, instead of displaying the vase, the museum sold the vase to an antique dealer? a. b. Charitable contribution deduction

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter13: Property Transactions: Determination Of Gain Or Loss, Basis Considerations, And Nonta Xable Exchanges

Section: Chapter Questions

Problem 56P

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