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Bermuda Corporation reports the following results in 2009 and 2010: 2011 2012 Adjusted taxable income $400,000 $600,000 Charitable contributions 70,000 50,000 What is Bermuda's contribution
Bermuda Corporation reports the following results in 2009 and 2010:
| 2011 | 2012 |
Adjusted taxable income | $400,000 | $600,000 |
Charitable contributions | 70,000 | 50,000 |
What is Bermuda's contribution deduction in 2011 and 2012? What is the disposition of any remaining amount?
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