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Calvin reviewed his canceled checks and receipts this year (2023) for charitable contributions, which included...

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Accounting

Calvin reviewed his canceled checks and receipts this year (2023) 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 FMV
Hobbs Medical Center IBM stock $ 6,000 $ 32,000
State Museum Antique painting 5,5003,300
A needy family Food and clothes 500300
United Way Cash 18,00018,000
Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. a. Calvin's AGI is $150,000.b. Calvin's AGI is $150,000, but the State Museum told Calvin that it plans to sell the painting.c. Calvin's AGI is $74,000.d. Calvin's AGI is $150,000 and Hobbs is a private nonoperating foundation.e. Calvin's AGI is $150,000, but the painting is worth $40,000.

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