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Deonte's records reflect the following information: 1.Paid $300 dues to a fraternal organization (such as the Moose Lodge). 2.Donated stock having a fair market value
Deonte's records reflect the following information:
1.Paid $300 dues to a fraternal organization (such as the Moose Lodge).
2.Donated stock having a fair market value of $4,000 to a qualified charitable organization. He purchased the stock six months earlier for $3,000.
3.Paid $2,000 cash to qualified public charitable organizations.
Deonte's adjusted gross income for this year was $75,000. What is the amount of his charitable contribution deduction for the year?
A) $2,000
B) $5,000
C) $6,000
D) $6,300
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