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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 century.

In addition to cash contributions to charity, Dean decided to donate shares of stock and a portrait painted during the earlier part of the century. Dean purchased the stock and portrait many years ago as investments. Dean reported the following recipients:

Charity Property Cost FMV

State University Cash $15,000 $15,000

Red Cross Cash 14,500 14,500

State History Museum Painting 5,000 82,000

City Medical Center Dell stock 28,000 17,000

*Assume that Dean's AGI this year is $240,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover.

Deduction____________?

Carryover____________?

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