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Required information (The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and receipts in 2020 for charitable contributions, which included
Required information (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. Donee Item Hobbs Medical Center IBM stock State Museum Antique painting A needy family Food and clothes United Way Cash Cost FMV $ 8,400 $56,000 6,700 4,020 740 440 42,000 42,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Assume CARES Act applies. (Leave no answer blank. Enter zero if applicable.) d. Calvin's AGI is $270,000 and Hobbs is a private nonoperating foundation. Charitable contribution deduction $ 102,020 Carryover $ 0
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