Jack Jones has adjusted gross income of $38,000. During 2019, Jack contributed $4,000 in cash...
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Accounting
- Jack Jones has adjusted gross income of $38,000. During 2019, Jack contributed $4,000 in cash to his church and stock with a fair market value of $26,000 to the Girl Scouts. The stock had cost Jack $14,000. What are Jack's choices with regard to his contribution deduction for 2019 and how does each choice affect future years?
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