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

question 56

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 abovE.The stock is appreciated capital gain property limited to 30% of AGI.

---

Definitions:

Acronym

An abbreviation formed from the initial letters of other words and pronounced as a word.

Negative Affect

A dimension of emotional experience characterized by feelings of dissatisfaction and distress.

Neuroticism

A personality trait characterized by sadness, moodiness, and emotional instability.

High in Self-monitoring

Describes individuals who are highly attentive and responsive to social cues and adjust their behavior accordingly.