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Jorge contributes $35,000 to his church and 100 shares of XYZ stock to the American Red Cross. The shares were purchased three years ago for
Jorge contributes $35,000 to his church and 100 shares of XYZ stock to the American Red Cross. The shares were purchased three years ago for $10,000 but were worth $18,000 as of the donation date. Jorge's AGI this year is $100,000. Assuming no elections are made, determine his current year charitable contribution deduction and the amount of any carryover to next year?
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