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[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
[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: Charity State University Red Cross State History Museum City Medical Center Property Cash Cash Antique painting Dell stock Cost FMV $ 17,400 $17,400 15,700 15,700 5, 240 91,600 52,000 41,000 c. Suppose Dean is a dealer in antique paintings, and he held the painting for sale before the contribution. What is Dean's charitable contribution deduction for the painting in this situation (ignoring AGI limitations)? Charitable contribution deduction
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