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

question 51

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.

---

Definitions:

Deindustrialization

The decline of industrial activity in a region or economy, typically resulting in widespread factory closures, job losses, and economic shifts.

Farm Laborers

Individuals who work in the agricultural sector, performing tasks related to planting, tending, and harvesting crops.

Organic Farming

An agricultural method that relies on natural processes and materials for crop production and livestock breeding, avoiding synthetic pesticides, herbicides, and fertilizers.

Sharecropping

Type of farm tenancy that developed after the Civil War in which landless workers—often former slaves—farmed land in exchange for farm supplies and a share of the crop.