What is the amount of stacy''s deduction


Stacy donates a hotel to a university for use as a conference center. The building cost $1,500,000 three months ago and has a fair market value of $1,900,000 on the date the contribution is made. If Stacy had sold the building the $400,000 difference between the sales price and cost would have been a short-term capital gain. What is the amount of Stacy's deduction for this contribution, considering any limitation based on AGI.

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Accounting Basics: What is the amount of stacy''s deduction
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