Pat gave 5,000 shares of stock in coyote corporation (a publicly traded corporation) to her church (a qualified charitable organization) in the current year. the stock was worth $180,000 and she had acquired it as an investment four years ago at a cost of $120,000. she reported agi of $300,000 for the year. in completing her current income tax return, how much is her current-year charitable contribution deduction? a.$180,000b.$150,000c.$120,000d.$90 ,000e. none of these choices are correct.

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business. true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.