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Dom Grady donated Ugg stock (value-$3,000, cost-$1,300) to PETA, a qualified charity (he has proper documentation) He has owned the Ugg stock for 7 years.

Dom Grady donated Ugg stock (value-$3,000, cost-$1,300) to PETA, a qualified charity (he has proper documentation) He has owned the Ugg stock for 7 years. How much can he deduct as an itemized deduction (assume he has $50,000 of itemized deductions before considering this donation).

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