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Dan donates a painting to a public charity, which then sells the painting and uses...

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Accounting

Dan donates a painting to a public charity, which then sells the painting and uses the proceeds for its charitable purpose. The property is classified as capital gain property. Dans basis in the painting is $50,000 and the FMV is $250,000. Dans AGI is $120,000. What is Dans allowed charitable contribution deduction for the painting?
A) $36,000
B) $50,000
C) $60,000
D) $250,000

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