Question

Rather the donate cash to a charity, assume Ira and Flora decide to donate the KSU bond to a charity. In this situation, Ira and Flora should______________.I.sell the bond first and then make a donation for a tax deduction.II.donate the bond first and then take a tax deduction.III.donate the bond first and then deduct the loss.

Answer 1

The correct answer is II.donate the bond first and then take a tax deduction.

Explanation: They need to understand after they make the donation, to make the tax deduction is after the donation has been made, because it doesn’t make sense before. And because of that this is the right option.