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Carl Purchased a Machine for Use in His Trade or Business

Question 43

Multiple Choice

Carl purchased a machine for use in his trade or business two years ago for $30,000.During the current year,Carl donates the machine to the local community college.At the time of the contribution,the machine's adjusted basis is $10,000 and its FMV is $15,000.Carl's AGI for the year is $48,000.What is the amount of his charitable contribution deduction?


A) $10,000
B) $14,000
C) $15,000
D) $25,000

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