Question
Ray Ray made the following contributions in 2023. Charity Property Cost Athens Academy School Cash $ 5,200 FMV $ 5,200 United Way Cash 5,250
Ray Ray made the following contributions in 2023. Charity Property Cost Athens Academy School Cash $ 5,200 FMV $ 5,200 United Way Cash 5,250 5,250 American Heart Association First Methodist Church Antique painting Coca-Cola stock 15,150 75,750 16,300 24,450 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. Cash contributions Property donations Maximum Amount
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