Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2019. She purchased the stock for $19,775 on December 28, 2018, and it had a fair market value of $28,250 when she made the donation. a. What is Donna's charitable contribution deduction? The stock is treated as capital gain property and Donna's charitable contribution deduction is $ for tax purposes. b. Assume instead that the stock had a fair market value of $16,950 (rather than $28,250) when it was donated to the American Red Cross. What is Donna's charitable contribution deduction?
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