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Ned contributes $400 in cash to a qualified charity. His only substantiation for this cash gift is his cancelled check. He also contributes a painting
Ned contributes $400 in cash to a qualified charity. His only substantiation for this cash gift is his cancelled check. He also contributes a painting to a qualified charity that he values at $8,000. He does not have an appraisal for the painting. How much of these charitable contributions are deductible?
Group of answer choices
$ 0.
$ 400.
$ 8,000.
$ 8,400.
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