IT II 6/7

Assume that in 2018 Hill Corporation reported a net operating loss of $18,600 that it carried forward to 2019. In 2018, Hill also reported a net capital loss of $3,900 that it carried forward to 2019. In 2019, ignoring any carryovers from other years, Hill reported a loss for tax purposes of $53.250. The current-year loss includes a $20,700 net capital gain. What is Hill's 2019 net operating loss? 2019 Net operating loss In year 1 (the current year), LAA Inc. made a charitable donation of $101,250 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of $600,000, which included a $101,250 charitable contribution deduction (before limitation), a $56,000 dividends received deduction, and a $13,700 net operating loss carryover from year O What is LAA Inc.'s charitable contribution deduction for year 1? Charitable contribution deduction for year 1