Calculator Print Item Multiple Choice 5-28 Contributions (LO 5.9) Stanley donates a hotel to a university for use as a conference center. The building was purchased 3 years ago for $1,500,000 and has a fair market value of $1,900,000 on the date the contribution is made. If Stanley had sold the building, the $400,000 difference between the sales price and cost would have been a long-term capital gain. What is the amount of Stanley's deduction for this contribution, before considering any limitation based or adjusted gross income? Oa. $2,300,000 Ob. $1,900,000 Oc. $0 g. $1,500,000 x Oe. The amount cannot be determined from the information given. Feedback Check My Work If cash is donated, the deduction is equal to the amount of the cash. For donated property other than cash, the deduction depends on whether the sale of the property would have resulted in ordinary income, short-term gain or long-term term gain