Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of 1 answer below »

Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of $15,000 to the college he attended, which is considered a public charity. Richard has owned the shares for 10 years. How is this contribution treated on Richard’s tax return? ____________________________________________________________________________________________________________________________________________________________

 

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