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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
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 2021: Charity Property State University Cash Cost $ 15,200 FMV $ 15,200 Red Cross Cash State History Museum City Medical Center Antique painting Dell stock 14,600 5,020 30,000 14,600 82,800 19,000 b. Assume that Dean's AGI this year is $160,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover. Answer is complete but not entirely correct. Deduction Carryover $ 82,800 51,600
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