Which of the following is not deductible as a charitable contribution?
A)Unreimbursed auto expenses on church business
B)Reasonable lodging costs while away from home overnight on business for a qualified charitable organization
C)Fair market value of appreciated stock held for five months and given to a church
D)Fair market value of used clothing given to the Salvation Army
E)Fair market value of land held as an investment for 10 years and given to a church

Question

Quizplus · Accepted Answer

The fair market value of appreciated stock held for less than one year (short-term capital gain property) is not fully deductible as a charitable contribution. Instead, the deduction is typically limited to the cost basis of the stock, not its appreciated value.

Which of the Following Is Not Deductible as a Charitable