Calculate calvins charitable contribution deduction

Reference no: EM133500723

Question: Calvin reviewed his cancelled checks and receipts this year for charitable contributions, which included a painting and IBM stock. He has owned the IBM stock and painting since 2005. Donee Item Cost FMV Hobbs Medical Center IBM stock $ 6,000 $ 32,000 State Museum Antique painting 5,500 3,300 A needy family Food and clothes 500 300 United Way Cash 18,000 18,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances.

Reference no: EM133500723

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