Ramon had AGI of $176,000 in 2023. He is considering making a charitable contribution this year to the American Heart Association, a qualified charitable organization, Determine the current allowable charitable contribution deduction in each of the foliowing independent situations, and indicate the treatment for any amount that is not deductible currentiy. Identify any planning ideas to minimize Pamon's tax liability. a. A cash gift of $88,000. In the current year, Aamon may deduct s since his charitable contribution is limited to 5 b. A gift of OakCo stock worth $88,000 on the contribution date. Ramon had acquired the stock as an investment two yesrs ago at a cost of $79,200. The stock's value for determining the contribution is 5 The deduction for 2024 is 3 The remaining vears: c. A gift of a pa imon purchased three vears ago for $79,200. The charity has indicated that it would seit the painting to generate cash to fund medical research. The contribution is valued at 1 The ampunt deductible in the current year is s d. Famon has decided to make a cash gift to the American Hesrt Association of $123,200. However, he is considering delaying his gift until 2024 when his AGI will increase to $300,000 and he will be in the 32% income tax bracket, an increase from his 2023 income tax bracket of 24%. c. A gitt of a painting worth $88,000 that Ramon purchased three years ago for $79,200. The charity has indicated that it would sell the painting to generate cash to fund medical research. The contribution is valued at 4 The amount deductible in the current year is 5 d. Ramon has decided to make a cash gitt to the American Heart Association of $123,200. However, he is considering delaying his gift until 2024 when his AGI will increase to $300,000 and he will be in the 32% income tax bracket, an increase from his 2023 income tax bracket of 24%. Assume a 6% discount rate. The present value factors, at a 6% discount rate, are as follows: If required, round your final answers to the nearest dollar. Ramon asks you to determine the tox savings from the tax deduction in present value terms if he were to make the gift in 2023 rather than delay the gift unti 2024 , Total present value of tax savings from the tax deducpon if made this vear: s Total present value of tax savings from the tax deduction if made next year: 1 Ramon had AGI of $176,000 in 2023. He is considering making a charitable contribution this year to the American Heart Association, a qualified charitable organization, Determine the current allowable charitable contribution deduction in each of the foliowing independent situations, and indicate the treatment for any amount that is not deductible currentiy. Identify any planning ideas to minimize Pamon's tax liability. a. A cash gift of $88,000. In the current year, Aamon may deduct s since his charitable contribution is limited to 5 b. A gift of OakCo stock worth $88,000 on the contribution date. Ramon had acquired the stock as an investment two yesrs ago at a cost of $79,200. The stock's value for determining the contribution is 5 The deduction for 2024 is 3 The remaining vears: c. A gift of a pa imon purchased three vears ago for $79,200. The charity has indicated that it would seit the painting to generate cash to fund medical research. The contribution is valued at 1 The ampunt deductible in the current year is s d. Famon has decided to make a cash gift to the American Hesrt Association of $123,200. However, he is considering delaying his gift until 2024 when his AGI will increase to $300,000 and he will be in the 32% income tax bracket, an increase from his 2023 income tax bracket of 24%. c. A gitt of a painting worth $88,000 that Ramon purchased three years ago for $79,200. The charity has indicated that it would sell the painting to generate cash to fund medical research. The contribution is valued at 4 The amount deductible in the current year is 5 d. Ramon has decided to make a cash gitt to the American Heart Association of $123,200. However, he is considering delaying his gift until 2024 when his AGI will increase to $300,000 and he will be in the 32% income tax bracket, an increase from his 2023 income tax bracket of 24%. Assume a 6% discount rate. The present value factors, at a 6% discount rate, are as follows: If required, round your final answers to the nearest dollar. Ramon asks you to determine the tox savings from the tax deduction in present value terms if he were to make the gift in 2023 rather than delay the gift unti 2024 , Total present value of tax savings from the tax deducpon if made this vear: s Total present value of tax savings from the tax deduction if made next year: 1