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 an art museum: $200
- Cash to a local hospital: $500
- Value of blood given to a local blood bank: $100
- Land held for 5 years (FMV $10,000; Cost $4,000) to a medical school
- Publicly traded stock held for less than 1 year (FMV $2,000; Cost $4,000) to a local college
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