George and Laura, a married couple with an adjusted gross income of

$100,000, made the following contributions to qualified charitable organizations:

• Cash of $8,000 given to State University.

• Used personal clothing donated to Goodwill.The clothing was acquired two years ago at a cost of $6,000. Its current fair market value is $2,000.

• Apex stock donated to their church.The stock was acquired in 1990 at a cost of $30,000. Its current fair market value is $15,000.

• Microsoft stock donated to the Red Cross.The stock was acquired in 1993 at a cost of $4,000. Its current fair market value is $11,000.

• Laura provided free services to the local charity that provides free food to homeless people.The fair value of the services she donated was $7,000.

How much can George and Laura deduct for these charitable contributions on their current year’s tax return?

a. $8,000

b. $10,000

c. $25,000

d. $36,000

e. $50,000 AppendixLO1