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

question 59

Multiple Choice

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 related to this stock 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 the choices are correct.