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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
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: Charity Property State University Cash Red Cross Cash State History Museum Painting City Medical Center Dell stock Cost $ 17,400 15,700 5,240 FMV $ 17,400 15,700 91,600 52,000 41,000 Problem 6-51 Part-b (Algo) b. Assume that Dean's AGI this year is $270,000. Determine Dean's itemized deduction for his charitable contributions th year and any carryover. Answer is complete but not entirely correct. Deduction Carryover $ 97,950 6,350
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