D | Question 12 2 pts During the current year, Hom donates a sculpture that cost $1,000 to a museum for exhibition The sculpture's fair market value was S1,700 on the date of the donation, and Hom's adjusted gross income is $40,000 a If Hom had held the sculpture for 4 months and the $700 (S1,700-S1 000) of appreciation would have been a short-term capital gain, calculate the amount of his itemized deduction for the contribution. If Hom had held the sculpture for 2 years and the $700 gain would have been a long term capital gain, calculate the amount of his itemized deduction for the contribution