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1. Paid $300 dues to a fraternal organization (such as the Elks Club). 2. Donated stock having a fair market value of $4,000 to a
1. Paid $300 dues to a fraternal organization (such as the Elks Club). 2. Donated stock having a fair market value of $4,000 to a qualified charitable organization. He purchased the stock 3 years earlier for $2,500. 3. Paid S1,200 cash to qualified public charitable organization:s. Hakeem's adjusted gross income for this year was $45,000. What is the amount of his charitable contribution deduction for the year? A) $5,500 B) $5,200 C) $4,300 D) S4,000
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