Business, 05.03.2020 20:21 chubnastii

Curly donated inventory (ordinary income property) to a university. He purchased the inventory seven months ago for $10,000, and on the date of the gift, it had a fair market value of $2,000. What is his maximum charitable contribution deduction for this donation if his AGI is $80,000?
A) $40,000
B) $2,000
C) $18,000
D) $10,000 if the church sells the inventory
E) None of the above

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Curly donated inventory (ordinary income property) to a university. He purchased the inventory seven...