For the current year,Sheila Jones had adjusted gross income of $100,000.During the year,she contributed $6,000 to her church and an additional $3,000 to qualified charities.She also contributed religious artwork with a fair market value of $60,000 and a basis of $20,000 to her church.The church intends to display the religious artwork in the church foyer.If Sheila chooses to itemize her deductions,what is the amount of her deductible charitable contribution in the current year?

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Sheila can deduct her cash contributions to her church and qualified charities, which totals $9,000 ($6,000 + $3,000). She can also deduct the fair market value of the religious artwork she donated, which is $60,000. However, since the artwork has a basis of $20,000, she can only deduct the difference, which is $40,000. Therefore, her total deductible charitable contributions are $49,000 ($9,000 + $40,000).

For the Current Year,Sheila Jones Had Adjusted Gross Income of $100,000.During