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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. Donee Item Hobbs Medical Center IBM stock Antique painting Food and clothes Cash Cost $ 7,800 6,400 680 36,000 FMV $ 50,000 3,840 410 36,000 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. b. Calvin's AGI is $240,000, but the State Museum told Calvin that it plans to sell the painting. Charitable contribution deduction Carryover
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