Question
Ray Ray made the following contributions this year Charity Property Cost FMV Athens Academy School Cash $ 6,450 $ 6,450 United Way Cash 4,350 4,350
Ray Ray made the following contributions this year
| Charity | Property | Cost | FMV |
| Athens Academy School | Cash | $ 6,450 | $ 6,450 |
| United Way | Cash | 4,350 | 4,350 |
| American Heart Association | Antique painting | 17,850 | 89,250 |
| First Methodist Church | Coca-Cola stock | 12,950 | 19,425 |
1) 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____
Propery donations______
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Audit Of The Financial Stability Oversight Councils Designation Of Financial Market Utilities Report To The Financial Stability Oversight Council And The Congress
Authors: The Council Of Inspectors General On Financial Oversight
1st Edition
1503369331, 978-1503369337
