Business, 26.01.2021 03:20 Sanonymous

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
(with a fair market value of $800 on the date of purchase) 1,200
Donation of used clothing to Salvation Army
(fair value evidenced by receipt received) 600
What is the maximum amount Spencer can claim as a deduction for charitable contributions in the current year?

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Spencer, who itemizes deductions, had adjusted gross income of $60,000 for the current year. The fol...

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