Ramon had AGI of $180,000 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 following independent situations, and indicate the treatment for any amount that is not deductible currently. Identify any planning ideas to minimize Ramon's tax liability. a. A cash gift of $95,000. In the current year, Ramon may deduct $ 95,000 since his charitable contribution is limited to $ 95,000 X. Feedback Check My Work A charitable contribution is defined as a gift made to a qualified organization. The potential charitable contribution deduction is the total of all donations, both money and property, that qualify for the deduction. b. A gift of OakCo stock worth $95,000 on the contribution date. Ramon had acquired the stock as an investment two years ago at a cost of $84,000. The stock's value for determining the contribution is $ 41,000 can be carried forward for 5 95,000 The deduction for 2023 is $ years. 54,000 . The remaining Feedback Check My Work Correct c. A gift of a painting worth $95,000 that Ramon purchased three years ago for $60,000. The charity has indicated that it would sell the painting to generate cash to fund medical research. The contribution is valued at $ 60,000. The amount deductible in the current year is $ 34,113 X