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Pat gave 5,000 shares of stock in Coyote Corporation (a publicly traded corporation) to her church (a qualified charitable organization). The stock was worth $180,000
Pat gave 5,000 shares of stock in Coyote Corporation (a publicly traded corporation) to her church (a qualified charitable organization). The stock was worth $180,000 and she had acquired it as an investment four years ago at a cost of $75,000. Pat had AGI of $300,000. In completing her income tax return, how much of the charitable contribution should Pat deduct?
$75,000. | ||
$90,000. | ||
$150,000. | ||
$180,000. | ||
None of the above. |
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