1 point During the tax year, Taxpayer made the following contributions to his local hospital,...
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1 point During the tax year, Taxpayer made the following contributions to his local hospital, which is a qualified domestic charitable organization. The hospital plans to sell the artwork to help fund operations. Assume that Taxpayer is not subject to any AGI limitations. Determine the total charitable contribution deduction to which taxpayer for both the cash and property contributions. Tax Basis Property Cash Artwork Apple, Inc. stock GE stock N/A $1,500 $4,225 $5,000 Fair Value $5,000 $4,500 $10,475 $2,300 $19,275 $21,975 $24,975 $19,975 Next Previous
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