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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

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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 the IBM stock and the painting since 2005. Donee Item Hobbs Medical Center IBM stock Cost $5,800 FMV $ 30,000 State Museum Antique painting 5,400 3,240 A needy family United Way Food and clothes Cash 480- 290 16,000 16,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Note: Leave no answer blank. Enter zero if applicable. Problem 6-50 Part-e (Algo) e. Calvin's AGI is $140,000, but the painting is worth $34,000. Charitable contribution deduction Carryover

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