Required information Problem 6 48 (LO 6 2) (Algo) Skip to question The following information applies to the questions displayed below Calvin reviewed his canceled 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 FMV Hobbs Medical Center IBM stock $ 8,800 $ 60,000 State Museum Antique painting 6,900 4,140 A needy family Food and clothes 780 470 United Way Cash 46,000 46,000 Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances (Leave no answer blank Enter zero if applicable ) Problem 6 48 Part a (Algo) a Calvins AGI is $290,000 b Calvin's AGI is $144,000

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Question: Required information Problem 6-48 (LO 6-2) (Algo) Skip to question [The following information applies to the questions displayed below.] Calvin reviewed his canceled checks and

Required information

Problem 6-48 (LO 6-2) (Algo)

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[The following information applies to the questions displayed below.]

Calvin reviewed his canceled 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		FMV
Hobbs Medical Center	IBM stock	$	8,800	$	60,000
State Museum	Antique painting		6,900		4,140
A needy family	Food and clothes		780		470
United Way	Cash		46,000		46,000

Calculate Calvin's charitable contribution deduction and carryover (if any) under the following circumstances. (Leave no answer blank. Enter zero if applicable.)

Problem 6-48 Part-a (Algo)

a. Calvins AGI is $290,000.

b. Calvin's AGI is $144,000.

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