Jimet, an unmarried taxpayer, qualified to itemize 2017 deductions. Jimet's 2017 adjusted gross income was $30,000, and he made a $2,000 cash donation directly to a needy family. In 2017, Jimet also donated stock, valued at $3,000, to his church. Jimet had purchased the stock 4 months earlier for $1,500. What was the maximum amount of the charitable contribution allowable as an itemized deduction on Jimet's 2017 income tax return?

a. $0
b. $1,500
c. $2,000
d. $5,000

Ans: b. $1,500

Business

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