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Sheldon made the following charitable contributions during 2017 to his local hospital, which is a qualified domestic charitable organization. The hospital plans to sell the

Sheldon made the following charitable contributions during 2017 to his local hospital, which is a qualified domestic charitable organization. The hospital plans to sell the painting to help fund its operations. Assume that Sheldons AGI is high enough that no charitable contribution limitations apply. Determine charitable contribution deduction to which Sheldon is entitled. For both cash and property.

BASIS FMV

Cash 5000 5000

Inventory 3000 6000

Artwork 1500 4000

AT&T stock 4225 10030

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