Al Contributed a Painting to the Metropolitan Art Museum of St.Louis

True/False

Al contributed a painting to the Metropolitan Art Museum of St.Louis, Missouri.The painting, purchased six years ago, was worth $40,000 when donated, and Al's basis was $20,000.If this painting is immediately sold by the museum and the proceeds are placed in the general fund, Al's charitable contribution deduction is $20,000 (subject to percentage limitations).