Required information

Problem $6-51($LO $6-2)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

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 $2022$:

Problem $6-51$ Part$-$b $($Algo$)$

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.

c$.$ Suppose Dean is a dealer in antique paintings and had held the painting for sale befortion for the painting in this situation $($ignoring AGI limitations$?$

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$)?$