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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: Charity Property State University Red Cross Cash Cash Cost FMV $19,000 $19,000 16,500 16,500 State History Museum City Medical Center Antique painting Dell stock 5,400 98,000 68,000 57,000 Problem 6-49 Part-a (Algo) a. Determine the maximum amount of charitable deduction for each of these contributions ignoring the AGI ceiling on charitable contributions. Property Maximum Amount Cash Painting Stock
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