Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005. Donee Item Cost $ 5,200 5,100 420 10,000 FMV Hobbs Medical Center IBM stock $ 24,000 State Museum Antique painting 3,060 A needy family United Way Food and clothes 250 Cash 10,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.) d. Calvin's AGI is $110,000 and Hobbs is a private nonoperating foundation. Charitable contribution deduction Carryover
Calvin reviewed his canceled checks and receipts this year (2021) for charitable contributions, which included an antique painting and IBM stock. He has owned the IBM stock and the painting since 2005. Donee Item Cost $ 5,200 5,100 420 10,000 FMV Hobbs Medical Center IBM stock $ 24,000 State Museum Antique painting 3,060 A needy family United Way Food and clothes 250 Cash 10,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.) d. Calvin's AGI is $110,000 and Hobbs is a private nonoperating foundation. Charitable contribution deduction Carryover
Chapter28: Income Taxation Of Trusts And Estates
Section: Chapter Questions
Problem 9DQ
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT