Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

V

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005.

Donee	Item	Cost	FMV
Hobbs Medical Center	IBM stock	$ 10,000	$ 72,000
State Museum	Antique painting	7,500	4,500
A needy family	Food and clothes	900	540
United Way	Cash	58,000	58,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-d (Algo)

d. Calvins AGI is $350,000 and Hobbs is a private nonoperating foundation.

Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He owned the IBM stock and the painting since 2005.

Donee Item Cost FMV

Hobbs Medical Center IBM stocks $10,000 $72,000

State Museum Antique Painting $7,500 $4500

A needy family Food and clothes $900 $540

United Way Cash $58000 $58000

Problem 6-48 Part D

D. Calvin's AGI is 350,000 and Hobbs is a private nonoperating foundation.

Charitable contributions	?
Carryover	2000