During the current year, Bob has AGI of $100,000. He also donated some stock to his church. He purchased the stock two years ago for $55,000. The FMV of the stock at the time of the contribution is $60,000. Bob has $5,000 of unused excess contributions from a prior year. What tax issues should Bob consider? Please explain.

My question is, what are all of the options here? What in one direction he has the limit he faces an overall 50% limitation, in the other direction the overall limitation is 30%. Its my understanding that if he reduces to the basis, 50% limit will apply, if he does not reduce, a 30% limit will apply. So, hwo can we show which option is the best for Bob, should he sell the stock and donate the cash or should he donate the stock? Will he need to show a $5000 Cap Gain, either way?