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Required information CARES Problem 6-48 (LO 6-2) (Algo) [The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and receipts in

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Required information CARES Problem 6-48 (LO 6-2) (Algo) [The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and receipts in 2020 for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005. Assume CARES Act applies. Donee Item Hobbs Medical Center IBM stock State Museum Antique painting A needy family Food and clothes United Way Cash Cost FMV $ 6,600 $38,000 5,800 3,480 560 340 24,000 24,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.) CARES Problem 6-48 Part-a (Algo) a. Calvin's AGI is $180,000. Answer is complete and correct. Charitable contribution deduction $ 65,480 Carryover 0 b. Calvin's AGI is $180,000, but the State Museum told Calvin that it plans to sell the painting. Charitable contribution deduction Carryover c. Calvin's AGI is $89,000. Charitable contribution deduction Carryover d. Calvin's AGI is $180,000 and Hobbs is a private nonoperating foundation. Charitable contribution deduction Carryover e. Calvin's AGI is $180,000, but the painting is worth $58,000. Charitable contribution deduction Carryover

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