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In addition to cash contributions to charity, Dean decided to donate shares of stock and a portrait painted during the earlier part of the last
In addition to cash contributions to charity, Dean decided to donate shares of stock and a portrait painted during the earlier part of the last century. Dean purchased the stock and the portrait many years ago as investments. Dean reported the following recipients in 2022: Charity Property State University Cash Cost $ 17,200 FMV $ 17,200 Red Cross Cash State History Museum City Medical Center Antique painting Dell stock 15,600 5,220 15,600 90,800 50,000 39,000 Problem 6-51 Part-b (Algo) b. Assume that Dean's AGI this year is $260,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover. Deduction Carryover $ 162,600
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