Question 15 4 points What is the general rule for how much of a charitable deduction a donor can claim as the result of a bargain sale? 1. The donor may deduct the fair market value of the item given 2. The donor may deduct only the cost basis of the item given 3. Subtract the value of what you receive from the value of what you give; that amount is a potentially deductible charitable gift 4. The donor may deduct up to 30% of his or her adjusted gross income 05. The donor may deduct the proceeds from the sale less the share of basis attributable to the sale portion of the transaction Save Answer

What is the general rule for how much of a charitable deduction a donor can claim as the result of a bargain sale? 1. The donor may deduct the fair market value of the item given 2. The donor may deduct only the cost basis of the item given 3. Subtract the value of what you receive from the value of what you give; that amount is a potentially deductible charitable gift 4. The donor may deduct up to 30% of his or her adjusted gross income 5. The donor may deduct the proceeds from the sale less the share of basis attributable to the sale portion of the transaction