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 can Mae deduct?
Question 46 options:
None of the above.
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