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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 Item Hobbs Medical Center IBM stock A needy family Antique painting Food and clothes Cash Cost $ 9,600 7,300 860 54,000 FMV $ 68,000 4,380 520 54,000 State Museum United Way Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Note: Leave no answer blank. Enter zero if applicable. Calvin's AGI is $330,000, but the painting is worth $148,000. Charitable contribution deduction Carryover
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