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In 2021, Remsco has taxable income of $78,000 and a charitable contribution limit modified taxable income of $30,600. Remsco donated cash of $9,120 to a
In 2021, Remsco has taxable income of $78,000 and a charitable contribution limit modified taxable income of $30,600. Remsco donated cash of $9,120 to a qualified public charity. What is Remsco's current-year charitable contribution deduction assuming Remsco makes any elections necessary to maximize its charitable contribution deduction? Multiple Choice $19,500 current-year deduction $9,120 current-year deduction $10,680 current-year deduction $7,650 current-year deduction
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