simone donated a landscape painting (tangible capital gain property) to a library, a public charity. she purchased the painting five years ago for $50,000, and on the date of the gift, it had a fair market value of $200,000. what is her maximum charitable contribution deduction for the year if her agi is $300,000?

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01-12-2022
Business

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simone donated a landscape painting (tangible capital gain property) to a library, a public charity. she purchased the painting five years ago for $50,000, and on the date of the gift, it had a fair market value of $200,000. what is her maximum charitable contribution deduction for the year if her agi is $300,000?

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