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Required information [The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and receipts this year for charitable contributions. He has

Required information

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

Calvin reviewed his canceled checks and receipts this year for charitable contributions. He has owned the IBM stock and painting since 2005.

Donee Item Cost FMV
Hobbs Medical Center IBM stock $ 5,000 $ 22,000
State Museum Painting 5,000 3,000
A needy family Food and clothes 400 250
United Way Cash 8,000 8,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

a. Calvins AGI is $100,000.

Charitable contribution deduction:______________

Carryover:_________________

c. Calvins AGI is $50,000.

Charitable contribution deduction:______________

Carryover:_________________

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