Spencer who itemizes deductions had adjusted gross income


Spencer, who itemizes deductions, had adjusted gross income of $60,000 for the current year. The following additional information is available for the year:

Cash contribution to church $ 4,000

Purchase of art object at church bazaar 1,200

(with a fair market value of $800 on the date of purchase)

Donation of used clothing to Salvation Army 600

(fair value evidenced by receipt received)

What is the maximum amount Spencer can claim as a deduction for charitable contributions in the current year?

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Financial Accounting: Spencer who itemizes deductions had adjusted gross income
Reference No:- TGS01606218

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