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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 b. Assume that Dean's AGI this year is $270,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover. Deduction Carryover [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 b. Assume that Dean's AGI this year is $270,000. Determine Dean's itemized deduction for his charitable contributions this year and any carryover. Deduction Carryover
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