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Required information Problem 6-50(LO 6-2)(Algo) [The following information applies to the questions...

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Accounting

Required information
Problem 6-50(LO 6-2)(Algo)
[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.
Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances.
Note: Leave no answer blank. Enter zero if applicable.
Problem 6-50 Part-e (Algo)
e. Calvin's AGI is $290,000, but the painting is worth $124,000.
Charitable contribution deduction
Carryover
image

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