Question
Jian corporation reported the following result for 2021: Gross income from operation $160,000 Operating expenses 155,000 Dividends from 20% owned domestic corporation 100,000 Long term
Jian corporation reported the following result for 2021:
Gross income from operation $160,000
Operating expenses 155,000
Dividends from 20% owned domestic corporation 100,000
Long term capital gain 4,000
Short term capital loss (5,000)
Cash charitable contributions 28,000
In addition, Jian corporation has a 6,000 NOL carryward from 2020. how much is Jian corporation charitable contribution deduction for 2021?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
