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What is the maximum value of the deduction

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Question - Your client donated their Shell stock to their church. The stock, which was purchased 10 months ago, had a FMV of $55,000 and a cost basis of $48,000. What is the maximum value of the deduction and what is the AGI threshold that it is subject to?

A. Maximum Deduction: $48,000 AGI Limit: 30%

B. Maximum Deduction: $48,000 AGI Limit: 50%

C. Maximum Deduction: $55,000, AGI Limit: 30%

D. Maximum Deduction: $55,000 AGI Limit: 50%

Reference no: EM132610305

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