Casey made several contributions to Caseys alma mater during the current year as follows: Cash $ 4,200

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Casey made several contributions to Casey’s alma mater during the current year as follows:

Cash $ 4,200

A painting that Casey has owned five years for display in the library (basis, $1,280),

FMV 9,500

Stock held for 10 months as an investment (basis, $900),

FMV 1,200

Assuming Casey’s AGI is $30,000, how much is Casey’s charitable contribution deduction?

Related Book For answer-question

Financial Accounting

ISBN: 978-1259222139

9th edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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Posted Date: Oct 05, 2020 07:18 AM

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Casey made several contributions to Caseys alma mater during the current year as follows: Cash $ 4,200

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1Cash Contributions to charity are limited to 60 of AGISinc... View the full answer

Financial Accounting

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