Tanner corporation, a computer maker, donated computers to a qualified educational institution. The computers were manufactured...
Homework Answers
Ans:the correct option for the above answer is option C i.e. $80,000
The contribution qualifies for the increased contribution amount available with respect to certain inventory.
The contribution is the lesser of :-
1) 40000 basis + 50 % * ( 150000 FMV - 40000 basis ) = $ 95000
2) 40000 * 2 = $ 80000 ( twice the property's basis )
Therefore, Tanner’s deduction = $80,000.
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Tanner corporation, a computer maker, donated computers to a
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