A) Calvin reviewed his cancelled checks and receipts this year for charitable contributions, which included a painting and IBM stock. He has owned the IBM stock and painting since 2005.

Hobbs Medical Center IBM Stock $8200 $54000

State Museum Antique Paintings $6600 $3960

A needy Family Food and Clothes $720 $430

United Way Cash $40,000 $40,000

Calculate Calvin's Charitable contribution deduction and carryover (if and) under the following circumstances

Calvin's AGI is $260,000

Charitable Contribution Deduction $xxxx

Carryover $xxxxx

B) In addition to cash contributions to charity, Dean decided to donate shares of stock and a portrait painted during the earlier part of the last century. Dean purchased the stock and portrait many years ago as investments. Dean reported the following recipients:

State University Cash $15,200 $15,200

Red Cross Cash $14,600 $14,600

State History Museum Painting $5,020 $82,800

City Medical Center Dell Stock $30,000 $19,000

Assume that Dean's AGI this year was $160,000. Determine Dean's itemized deductioon for his charitable contributions this year and any carryover

Deduction $xxx

Carryover $xxx