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Required information [The following information applies to the questions displayed below.] In addition to cash contributions to charity, Dean decided to donate shares of
Required information [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 Cost FMV State University Cash Red Cross Cash State History Museum Antique painting City Medical Center Dell stock $ 17,400 15,700 5,240 52,000 $ 17,400 15,700 91,600 41,000 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)? Charitable contribution deduction
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