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. Mwhorses our tickets to church bardgaui. Each ticket cos S70 and had a FMV of $20 Dinner 1 20 Donated a tract of land purchased 7 years ago for $9,000. 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? 

Answer rating: 100% (QA)

To calculate Tys charitable deduction for the current year we need to consider the different types ... View the full answer