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Cleveland Brown, Jr. Incorporated reported the following activity during the years indicated: Year 1 Adjusted Taxable Income $2,899,771 Charitable Contributions $982,340 Year 2 Adjusted Taxable
Cleveland Brown, Jr. Incorporated reported the following activity during the years indicated:
Year 1
Adjusted Taxable Income $2,899,771
Charitable Contributions $982,340
Year 2
Adjusted Taxable Income $1,620,771
Charitable Contributions $114,048
Year 3
Adjusted Taxable Income $2,103,590
Charitable Contributions $160,446
Required: Calculate the corporations charitable contribution deduction and any carryovers for each year.
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