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 State University Red Cross State History Museum City Medical Center Property Cash Cash Antique painting Dell stock Cost FMV $19,200 $19, 200 16,600 16,600 5, 420 98,800 70,000 59,000 Problem 6-49 Part-b (Algo) b. Assume that Dean's AGI this year is $360,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover. Deduction Carryover c. Suppose Dean is a dealer in antique paintings and had held the painting for sale before the contribution. What is Dean's charitable contribution deduction for the painting in this situation (ignoring AGI limitations)? Charitable contribution deduction d. Suppose that Dean's objective with the donation to the museum was to finance expansion of the historical collection. Hence, Dean was not surprised when the museum announced the sale of the painting because of its limited historical value. What is Dean's charitable contribution deduction for the painting in this situation (ignoring AGI limitations)? Charitable contribution deduction 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 State University Red Cross State History Museum City Medical Center Property Cash Cash Antique painting Dell stock Cost FMV $19,200 $19, 200 16,600 16,600 5, 420 98,800 70,000 59,000 Problem 6-49 Part-b (Algo) b. Assume that Dean's AGI this year is $360,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover. Deduction Carryover c. Suppose Dean is a dealer in antique paintings and had held the painting for sale before the contribution. What is Dean's charitable contribution deduction for the painting in this situation (ignoring AGI limitations)? Charitable contribution deduction d. Suppose that Dean's objective with the donation to the museum was to finance expansion of the historical collection. Hence, Dean was not surprised when the museum announced the sale of the painting because of its limited historical value. What is Dean's charitable contribution deduction for the painting in this situation (ignoring AGI limitations)? Charitable contribution deduction