In a year that leonard had agi of 100000 he donated 250000

Reference no: EM13590337

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.

Reference no: EM13590337

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