Thinking of making rather large charitable contribution

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Reference no: EM132017597

Ono is thinking of making a rather large charitable contribution this year (2017) to the United Way. He would like your advice on which asset he should contribute. He is considering making donation of Disney stock. He purchased the stock 12 years ago for $30,000 and it has a FMV of $100,000. He is also considering donating a Salvadore Dali painting valued at $300,000. Ono purchased the painting 20 years ago for a steal at $10,000. Ono is predicting his AGI will be $250,000 for the year. Which asset would you advise Ono to contribute and why. Remember to show all your work to explain how you derived your answer.

Reference no: EM132017597

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