! Required information [The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and receipts this year (2024) 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 Cost $ 6,400 State Museum A needy family United Way Antique painting Food and clothes Cash 5,700 540 22,000 FMV $ 36,000 3,420 320 22,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Note: Leave no answer blank. Enter zero if applicable. c. Calvin's AGI is $84,000. Charitable contribution deduction Carryover
! Required information [The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and receipts this year (2024) 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 Cost $ 6,400 State Museum A needy family United Way Antique painting Food and clothes Cash 5,700 540 22,000 FMV $ 36,000 3,420 320 22,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. Note: Leave no answer blank. Enter zero if applicable. c. Calvin's AGI is $84,000. Charitable contribution deduction Carryover
Chapter28: Income Taxati On Of Trusts And Estates
Section: Chapter Questions
Problem 16CE
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Required information
[The following information applies to the questions displayed below.]
Calvin reviewed his canceled checks and receipts this year (2024) 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
Cost
$ 6,400
State Museum
A needy family
United Way
Antique painting
Food and clothes
Cash
5,700
540
22,000
FMV
$ 36,000
3,420
320
22,000
Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances.
Note: Leave no answer blank. Enter zero if applicable.
c. Calvin's AGI is $84,000.
Charitable contribution deduction
Carryover](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8fb615aa-e59a-404e-846c-95483b23bb30%2F7711dea3-34b9-4bde-8136-cf58d9ea9f56%2Fyn3r8fo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Calvin reviewed his canceled checks and receipts this year (2024) 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
Cost
$ 6,400
State Museum
A needy family
United Way
Antique painting
Food and clothes
Cash
5,700
540
22,000
FMV
$ 36,000
3,420
320
22,000
Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances.
Note: Leave no answer blank. Enter zero if applicable.
c. Calvin's AGI is $84,000.
Charitable contribution deduction
Carryover
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