Question: Ray Ray made the following contributions this year. Determine the maximum amount of charitable deduction for each of these contributions ignoring the AGI ceiling on

Ray Ray made the following contributions this year.

Determine the maximum amount of charitable deduction for each of these contributions ignoring the AGI ceiling on charitable contributions and assuming that the American Heart Association plans to sell the antique painting to fund its operations. Ray Ray has owned the painting and Coca-Cola stock since 1990.

Cost S 5,000 4,000 American Heart Association Antique painting 15,000 First Methodist Church Coca Cola stock 2,000 Charitv Athens Academy Schoo United Way Property FMV cash 4,000 75,000 20,000 cash

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