How much could it deduct in year three

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Sporting Goods Inc. bought stock in year one for $10,000. In year three, when the stock was worth $100,000, it donated the stock to a law school. Sporting Goods Inc. has a taxable income of $500,000 in year three. How much could it deduct in year three?

Reference no: EM131264573

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How much could it deduct in year three : Sporting Goods Inc. bought stock in year one for $10,000. In year three, when the stock was worth $100,000, it donated the stock to a law school. Sporting Goods Inc. has a taxable income of $500,000 in year three. How much could it deduct in year thr..

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