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John Jones has adjusted gross income of $50,000. During 2017, John contributed $6,000 in cash to his church and stock with a fair market value
John Jones has adjusted gross income of $50,000. During 2017, John contributed $6,000 in cash to his church and stock with a fair market value of $40,000 to the Girl Scouts. The stock had cost John $36,000. What is John's charitable contribution deduction for 2017? If John elects the optional reduction of the stock contribution, what would be his charitable contribution deduction for 2017?
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