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What short story inspired Frank Capra’s It’s a Wonderful Life?

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Frank Capra (From left) Unidentified, Gary Cooper, and Frank Capra on the set of *Mr. Deeds Goes to Town*.

Frank Capra’s 1946 film It’s a Wonderful Life was inspired by the short story titled "The Greatest Gift."

The story was written by Philip Van Doren Stern, who originally sent it to friends as a Christmas card before it was later published in Good Housekeeping magazine. Frank Capra purchased the rights to the story from RKO and developed the screenplay with writers Frances Goodrich and Albert Hackett.1