Question
In year 1 (the current year), LAA Inc. made a charitable donation of $168,750 to the American Red Cross (a qualifying charity). For the year,
In year 1 (the current year), LAA Inc. made a charitable donation of $168,750 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of $555,000, which included a $168,750 charitable contribution deduction (before limitation), a $67,750 dividends received deduction, and a $11,900 net operating loss carryover from year 0. What is LAA Inc.s charitable contribution deduction for year 1?
Answer is not 80,340
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ISO 14010s Environmental Auditing Tools And Techniques For Passing Or Performing Environmental Audits
Authors: W. Lee Kuhre
1st Edition
0133802051, 978-0133802054
