Calvin reviewed his cancelled checks and receipts this year 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 $ 6,400 $36,000 5,700 540 FMV Hobbs Medical Center IBM stock Antique painting Food and clothes 3,420 320 State Museum A needy family United Way Cash 22,000 22,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)
Calvin reviewed his cancelled checks and receipts this year 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 $ 6,400 $36,000 5,700 540 FMV Hobbs Medical Center IBM stock Antique painting Food and clothes 3,420 320 State Museum A needy family United Way Cash 22,000 22,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)
Chapter2: Working With The Tax Law
Section: Chapter Questions
Problem 43P
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Question
Calvin’s AGI is $84,000.
charitable contribution deduction 42000
carryover ?
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