Charitable contribution deduction limitation

Reference no: EM13155317

Stewart had adjusted gross income of $22,000 in 2008. During the year, he made the following contributions to recognized public charities: $5,000 cash 1,000 shares of Able Corporation common stock, acquired in 1979 (cost and fair market value of $7,000) Considering the charitable contribution deduction limitation, what amount can Stewart claim as a deduction for charitable contributions in 2008?

a. $6,600

b. $11,000

c. $11,600

d. $12,000

e. None of the above

Reference no: EM13155317

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