Question: 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

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 religious institution for paving of institution's parking lot: $7,000
  • Publicly traded stock held for 62 months (FMV $2,000; Cost $1,000) to a local election committee
  • Building fund for a new art museum: cash, $1,000
  • Cash to a volunteer fire department: $900
  • Antique sculpture (FMV $16,000; Cost $8,000) to an art museum which is held for 4 years that is put on display in the museum

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