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Blue Corp., a C corporation, donated capital gain property (stock with a fair market value of $90,853 and an adjusted basis of $64,383) to a
Blue Corp., a C corporation, donated capital gain property (stock with a fair market value of $90,853 and an adjusted basis of $64,383) to a qualified charitable organization in 2022. Before any charitable contribution deduction, Blue Corp. will have taxable income of $1,000,000 (no DRD and no NOL carryovers) in 2022.
What amount can Blue Corp. deduct on its 2022 federal income tax return? Enter your answer as a positive number rounded to the nearest whole dollar.
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