Stan, a CPA, contributed the following items:

1. Clothing to Goodwill Industries (Cost - $600; FMV on date of contribution - $100)

2. Mileage driven on Red Cross Pledge Drive - 200 miles

3. 100 hours donated to Red Cross as local chapter Treasurer (his professional hourly rate is $200/hour)

If Stan's AGI is $100,000, his current year charitable contribution itemized deduction is:

a. $100.

b. $128.

c. $628.

d. $20,128.

e. none of the above.

2. Sue contributed the following items:

1. Cash paid to Central Michigan University - $2,500

2. Cost of ticket to attend American Cancer Society Benefit Dinner (Cost, $50; FMV of dinner received, $20)

3. Cash paid to a family in Michigan whose home was destroyed by fire - $100

If Sues AGI is $130,000, her current year charitable contribution itemized deduction is:

a. $2,650.

b. $2,550.

c. $2,530.

d. $2,500.

e. none of the above.

3. Kathy contributed the following items:

1. Cash paid to Haitian charity to help homeless Haitian children - $500

2. Cash paid to National Democratic Party - $50

3. Cash paid to First Church - $28,000

If Kathy's current year AGI is $40,000, her charitable contribution carryforward to next year is:

a. $0.

b. $4,000.

c. $4,500.

d. $4,550.

e. none of the above.

4. Calvin, a sole proprietor, made the following contributions to qualified charities:

Donee Item Cost FMV Hobbs Medical Center IBM stock $ 5,000 $ 25,000

(held 3 years) Homeless Shelter inventory 5,000 8,000

(held 3 months) United Way cash 2,000 2,000

(Note: a sole proprietor deducts all allowable charitable contributions as an itemized deduction.) If Calvins AGI is $70,000, his charitable contribution itemized deduction is:

a. $35,000.

b. $32,000.

c. $31,000.

d. $28,000.

e. none of the above.