In 2023, LAA Incorporated made a charitable donation of $132,000 to the Trevor Project (a qualifying charity). For the year, LAA reported taxable income of $582,000, which included a $132,000 charitable contribution deduction (before limitation) and a $53,200 dividends-received deduction, and a $132,000 net operating loss carryover from 2022. What is LAA Incorporated's charitable contribution deduction for 2023? Assume the charitable donation is not a qualified contribution because LAA Incorporated did not make the necessary election. Charitable contribution deduction for 2023

In 2023. LAA incorporated made a charitable donation of $132,000 to the Trevor Project (a qualifying charity). For the year, LAA reported taxable income of $582,000, which included a $132,000 charitable contribution deduction (before limitation) and a $53,200 dividends-received deduction, and a $132,000 net operating loss carryover from 2022 What is LAA incorporated's charitable contribution deduction for 2023 ? Assume the charitable donation is not a qualified contribution because LAA Incorporoted did not make the necessary election