Larry donated 300 shares of Acme Corporation Stock to the Salvation Army, a qualified charitable...
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Accounting
Larry donated 300 shares of Acme Corporation Stock to the Salvation Army, a qualified charitable organization. He purchased the stock in 2007 and paid $16,370. The stock was worth $54,013 at the time of his donation. Larry's adjusted gross income this year was $93,472. Calculate the amount of his charitable contribution deduction and any carryover to next year.
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