Question
In year 1 (the current year), LAA Inc. made a charitable donation of $99,750 to the American Red Cross (a qualifying charity). For the year,
In year 1 (the current year), LAA Inc. made a charitable donation of $99,750 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of $624,000, which included a $99,750 charitable contribution deduction (before limitation), and a $45,000 dividends received deduction.
What is LAA Inc.s charitable contribution deduction for year 1?
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Performance Auditing Of Public Sector Property Contracts
Authors: Lori Keating
1st Edition
0566089998, 978-0566089992
