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(4 points) Gerald donates stock in Blossom Corporation to the American Red Cross (a public charity) on July 15, 2020. He purchased the stock for

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(4 points) Gerald donates stock in Blossom Corporation to the American Red Cross (a public charity) on July 15, 2020. He purchased the stock for $40,000 on November 6, 2019, and it has a fair market value of $43,500 when he made the donation Gerald's AGI for 2020 is $70,000. What is Gerald's contribution amount? What is Gerald's charitable contribution deduction for 2020? Edit Format Table

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