Question: Note: The $ 7 , 0 0 0 cash donation is below the 6 0 % limit of $ 1 3 , 2 0 0

Note: The $7,000 cash donation is below the 60% limit of $13,200($22,00060%) and is thus deductible. The noncash donation is subject to a limit of 50% of AGI decreased by any deductions taken at the 60% level. The $7,000 noncash donation is limited to $4,000($22,00050% less the previous deduction of $7,000). The total deduction is $11,000. The excess contribution of $3,000 may be carried forward for up to 5 years. The correct answer is $11.000

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