In a year that Leonard had AGI of $100,000, he donated $250,000 worth of stock t

Question

In a year that Leonard had AGI of $100,000, he donated $250,000 worth of stock to Indiana University, where he earned his Ph.D. in experimental physics.  He had bought the stock many years ago for $65,000.  How much can Leonard deduct in the year he made this contribution?  Assume Leonard's AGI will remain at $100,000 each year for the foreseeable future.  Note, if more than one answer is correct, do what is best for Leonard in the long-term.

$50,000

$20,000

$30,000

$0

$250,000

$65,000

None of the other answers is correct

First to correctly answer all three get full points

A.

$50,000

B.

$20,000

C.

$30,000

D.

$0

E.

$250,000

F.

$65,000

G.

None of the other answers is correct

First to correctly answer all three get full points

Explanation / Answer

$30,000

$30,000

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