Rodney is single and has adjusted gross income of $100,000. He qualifies to itemize deductions...
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Accounting
Rodney is single and has adjusted gross income of $100,000. He qualifies to itemize deductions for the current tax year. Rodneys only charitable contribution this year is an antique car that he had owned for 30 years that had a fair market value of $50,000 and adjusted basis of $15,000. What is the amount of charitable contributions deductible on Rodneys current year income tax return? Group of answer choices $ 0 $15,000 $30,000 $50,000
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