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Calvin reviewed his canceled checks and receipts this year (2023) for charitable contributions, which included an antique painting and IBM stock. He has owned


 

Calvin reviewed his canceled checks and receipts this year (2023) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005. FMV Donee Item Cost Hobbs Medical Center IBM stock Antique painting Food and clothes Cash $9,600 7,300 860 54,000 $ 68,000 4,380 520 54,000 State Museum A needy family 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. Problem 6-50 Part-d (Algo) d. Calvin's AGI is $330,000 and Hobbs is a private nonoperating foundation. Charitable contribution deduction Carryover $ 2,000

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