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Ray Ray made the following contributions in 2021. Charity Property Cost FMV Athens Academy School Cash $ 8,050 $ 8,050 United Way Cash 5,850 5,850
Ray Ray made the following contributions in 2021. Charity Property Cost FMV Athens Academy School Cash $ 8,050 $ 8,050 United Way Cash 5,850 5,850 American Heart Association Antique painting 15,300 76,500 First Methodist Church Coca-Cola stock 15, 250 22,875 Determine the maximum amount of charitable deduction for each of these contributions ignoring the AGI ceiling on charitable contributions and assuming that the American Heart Association plans to sell the antique painting to fund its operations. Ray Ray has owned the painting and Coca-Cola stock since 1990. Maximum Amount Cash contributions Property donations
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