Patrick's Records for the Current Year Contain the Following Information

question 117

Multiple Choice

Patrick's records for the current year contain the following information. -He donated stock having a fair market value of $5,000 to a qualified charitable organization.Patrick acquired the stock two years ago at a cost of $3,000.
-He paid $1,000 for membership in an athletic scholarship program maintained by the university.The only benefit of the membership is that Patrick is entitled to purchase a season ticket to the university's home football games.
-He also donated $7,500 cash to a qualified charitable organization.Patrick's adjusted gross income for the year is $100,000.
What is the amount of his charitable contribution deduction?

• A)$11,300
• B)$11,500
• C)$13,300
• D)$13,500

---

Definitions:

Wernicke's Aphasia

A condition resulting from damage to the language comprehension area in the temporal lobe, characterized by fluent but nonsensical speech and difficulty understanding spoken words.

Wrong Words

Wrong Words describes instances where inappropriate, incorrect, or unintended words are used in communication.

Speaking Fluently

The ability to express oneself easily and articulately in spoken language.

Gray Matter

The darker colored regions of the brain and spinal cord, primarily composed of neuron cell bodies and branches.