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Calvin reviewed his canceled checks and receipts this year (2022) for charitable contributions, which included an antique painting and IBM stock. He has owned
Calvin reviewed his canceled checks and receipts this year (2022) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005. Donee Hobbs Medical Center State Museum A needy family Item IBM stock Antique painting Food and clothes Cash Cost $ 5,000 5,000 400 FMV $ 22,000 3,000 250 8,000 United Way 8,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Note: Leave no answer blank. Enter zero if applicable. b. Calvin's AGI is $100,000, but the State Museum told Calvin that it plans to sell the painting. Charitable contribution deduction Carryover
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