Trey Stanky’s adjusted gross income is $90,000 in 2022. He

Trey Stanky’s adjusted gross income is $90,000 in 2022.

He gave $8,000 cash to his church. (100% Public)

He also donated land with a fair market value of $60,000 to Cleveland State University. The land had cost Trey $30,000 in 1988. (30% Public)

He contributed stock in ABC Corp. to a public charitable organization. The basis in the stock was $1,000, but its fair market value was $1,500 at the time of the donation. Indicate the correct income tax treatment as a result of the donation. The stock was held long term. (30% Public)

He gave inventory costing $2,000 but worth $2,500 to a public charity (50% Public).

Finally, he contributed $6,000 to a private scholarship foundation to which the 20 percent limitation applies. (20% Private)

Trey does not elect the optional reduction of the land or stock contribution. What is Trey’s charitable contribution deduction and carryover for the year? (30 points).

Use the following chart.