For the current year, Gina Hestopolis had adjusted gross income of $100,000. During the year, she...

 

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For the current year, Gina Hestopolis had adjusted gross income of $100,000. During the year, she contributed cash of $16,000 to her church and an additional $3,000 to qualified charities. She also contributed religious artwork that she owned for 10 years with a fair market value of $28,000 and a basis of $20,000 to a museum. The museum intends to display the religious artwork. If Gina chooses to itemize her deductions, what is the amount of her deductible charitable contribution in the current year? A) $47,000. B) $19,000. C) $39,000. D) $28,000. E) $30,000. For the current year, Gina Hestopolis had adjusted gross income of $100,000. During the year, she contributed cash of $16,000 to her church and an additional $3,000 to qualified charities. She also contributed religious artwork that she owned for 10 years with a fair market value of $28,000 and a basis of $20,000 to a museum. The museum intends to display the religious artwork. If Gina chooses to itemize her deductions, what is the amount of her deductible charitable contribution in the current year? A) $47,000. B) $19,000. C) $39,000. D) $28,000. E) $30,000.

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The correct answer is Option A which is 47000 The following things are ta... View the full answer