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Jaylen made a charitable contribution to his church in the current year. He donated common stock valued at $26,050 (acquired as an investment in 2006

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Jaylen made a charitable contribution to his church in the current year. He donated common stock valued at $26,050 (acquired as an investment in 2006 for $10,500). Jaylen's AGI in the current year is $71,000. Required: a. What is his allowable charitable contribution deduction? b. How are any excess amounts treated? Amounts a. Charitable contribution deduction b. Carryover

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