06 Saved Help Save & Exit Submit 26:19 This year, Major Healy paid $35,000 of interest on a mortgage on his home (he borrowed $700,000 to buy the residence in 2015; $800,000 original purchase price and value at purchase), $5,250 of interest on a $105,000 home equity loan on his home (loan proceeds were used to buy antique cars), and $7,500 of interest on a mortgage on his vacation home (borrowed $150,000 to purchase the home in 2010; home purchased for $375,000). Major Healy's AGI is $220,000. How much interest expense can Major Healy deduct as an itemized deduction? Interest Deductible ed 5 26:09 Help Save & Exit Submit Ray Ray made the following contributions in 2021. Charity Athens Academy School United Way Property Cash Cost $ 7,650 FMV $ 7,650 Cash 5,450 5,450 American Heart Association Antique painting 15,250 76,250 First Methodist Church Coca-Cola stock 12,250 18,375 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. ped ant ences Cash contributions Property donations Maximum Amount