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:

Personal Conversation

Refers to a private discussion or dialogue between individuals about personal matters or topics of mutual interest.

Noise

Unwanted or distracting background sounds that can interfere with communication or concentration.

Distortion

The act of twisting or altering information, facts, or perceptions, usually resulting in a misleading or misconceived outcome.

Nonverbal Communication

The transfer of information through body language, facial expressions, and other physical manners without spoken words.