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Isa, an accountant, has an AGI of 100k. He makes two charitable contributions this year. First, he donates a piece of marker board art to
Isa, an accountant, has an AGI of 100k. He makes two charitable contributions this year. First, he donates a piece of marker board art to be displayed at the college museum. The art was held for 13 months, and has a basis of $1 with a FMV of $30,000. He also donates $40,000 in cash to the college department. Both contributions meet the IRS definition of qualified charitable contribution to a public charity. What is Isas total current year charitable contribution for tax purposes?
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