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Ty Cox, a single philanthropist, enjoys helping others by spreading his wealth and performing services in his community. In the current year. Ty's records contain
Ty Cox, a single philanthropist, enjoys helping others by spreading his wealth and performing services in his community. In the current year. Ty's records contain the following information; Donated stock with a FMV of $3,000 to a qualified charitable organization. He acquired the stock 9 months earlier at a cost of $2,000 Donated used clothing with a FMV of $300 to church mission. Performed services with a value of $400 to local nonprofit hospital. FMV of S200 dcke onne be Eh tiket catsto and had s FMV of $20. 20 Donated a tract of land purchased 7 years ago for 59.000. Its appraised value at the time of contribution was $12.000. During the current year. Ty had adjusted gross income of $120,000. What is Ty's charitable deduction for the current year? A. $11,300 . $15,500 . $14,500 D. $11,500
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