Calculate the maximum allowable contribution deduction for Year 2 before any adjusted gross income limitations....
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Finance
Calculate the maximum allowable contribution deduction for Year 2 before any adjusted gross income limitations. Enter amounts as positive, whole values. If an amount is zero, enter a zero (0).
Contributions made in Year 2 included the following:
Cash to a local religious institution: $4,000
Cash to a political action committee: $400
Publicly traded stock held for 36 months (FMV $6,000; Cost $5,000) to a state university
Cash to a local science museum: $500
Rental value of property occupied by a nationally organized charity at no charge: $5,000
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