Madeoff donated stock (capital gain property) to a public charity. He purchased the stock 3 years ago for $100,000, and on the date of the gift, it had a fair market value of $200,000. What is his maximum charitable contribution deduction for the year if his AGI is $500,000 (before considering the itemized deduction phase-out)?
A) $100,000
B) $200,000
C) $150,000
D) $250,000
E) None of these

Question

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The Answer of Madeoff donated stock (capital gain property) to a public charity. He purchased the stock 3 years ago for $100,000, and on the date of the gift, it had a fair market value of $200,000. What is his maximum charitable contribution deduction for the year if his AGI is $500,000 (before considering the itemized deduction phase-out)?
A) $100,000
B) $200,000
C) $150,000
D) $250,000
E) None of these

Madeoff Donated Stock (Capital Gain Property) to a Public Charity