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Chris Cornell gave 6,000 shares of stock in Soundgarden Corporation (a publicly traded corporation) to his mosque (a qualified charitable organization) in the current year.
Chris Cornell gave 6,000 shares of stock in Soundgarden Corporation (a publicly traded corporation) to his mosque (a qualified charitable organization) in the current year. The stock was worth $200,000. He had acquired it as an investment four years ago at a cost of $150,000. He reported AGI of $400,000 for the year. In completing his current income tax return, how much is his current-year charitable contribution deduction?
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