Mae donated stock in Eagle Corporation (a publicly traded corporation) to her church. The stock was worth $60,000
Mae donated stock in Eagle Corporation (a publicly traded corporation) to her church. The stock was worth $60,000 and had been acquired as an investment three years ago at a cost of $50,000. Mae had AGI of $100,000 in the year she made the donation. Mae does not make a “reduced deduction election.” In completing her income tax return, how much of the charitable contribution […]