CAP Practice Questions - CAP Chartered Advisor In Philanthropy Exam

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A donor sells a parcel of land to a public charity for $200,000 when its fair market value is $500,000. The donor's basis is $100,000. What type of charitable transaction has occurred?

An outright gift of $300,000 A bargain sale, with $200,000 sale and $300,000 charitable gift A bargain sale, with the entire $500,000 as charitable gift A taxable sale of the entire $500,000

Correct Answer:

A bargain sale, with $200,000 sale and $300,000 charitable gift

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