[ANSWERED] Charitable Contribution Limitations . In each of the following independent cases, determine the…

Charitable Contribution Limitations . In each of the
following independent cases, determine the amount of the charitable
contribution and the limitation chat would apply. In each case, assume chat the
donee is a qualified public charity.
a. Sharon donates a tract of land co a charitable
organization. She has held the land for seven years. Her basis in the land is
$10,000 and its FMV is $40,000.
b. Assume the same facts in Pare a, except that Sharon has
held the land for only 11 months and chat its FMV is $23,000.
c. Jack purchases a historical document for $50,000. He
donates the historical docu – ment co a charitable organization two years
lacer. The organization plans to use it for research and study. Its FMV at the
time of the donation is $100,000.
d. Assume the same faces in Pare c, except that the
organization plans to sell the document and put the money into an endowment
fund.
e. Valerie donates some inventory co a charitable
organization. The inventory is not food or clothing. The inventor y is
purchased for $500 and its FMV is $1,200 at the time of the donation. She held
the inventory for seven months.