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Bay's separate taxable income was $250,000, and Lemon's was $140,000. Consolidated taxable income before contributions was $350,000. Charitable contributions made by the affiliated group included
Bay's separate taxable income was $250,000, and Lemon's was $140,000. Consolidated taxable income before contributions was $350,000. Charitable contributions made by the affiliated group included $110,000 by Bay and $12,000 by Lemon. Which is the group's charitable deduction? A. $39,000 B. $35,000 C. $23,000 D. $0 E. None of the above
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Computer Accounting Essentials Using Quickbooks 2014
Authors: Carol Yacht, Susan Crosson
7th Edition
1259277372, 978-1259277375
