Multiple Choice Question

Patrick has an adjusted gross income of $$120,000$ in the current year. He donated $$62,000$ in cash to a

public charity, capital gain property with a basis of $$15,000$ and a fair market value of $$35,000$ to a public

charity, and publicly traded stock with a basis of $$12,000$ and a fair market value of $$25,000$ to a private

nonoperating foundation. Patrick's deductible contribution for the current year is

$$62,000$ in cash to the public charity, $$10,000$ in property to the public charity, and $$0$ stock

to the private nonoperating foundation.

$$62,000$ in cash to the public charity, $$10,000$ in property to the public charity, and $$15,000$ in

stock to the private nonoperating foundation.

$$62,000$ in cash to the public charity, $$35,000$ in property to the public charity, and $$24,000$

in stock to the private nonoperating foundation.

$$13,000$ in cash to the public charity, $$35,000$ in property to the public charity, and $$24,000$

in stock to the private nonoperating foundation.