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QUESTION 25 Contribution Carryover Bonnie has AGI of $60,000 in 2020 and 2021. She makes cash contibutions to public charities of $40,000 in 2020 and

QUESTION 25 Contribution Carryover Bonnie has AGI of $60,000 in 2020 and 2021. She makes cash contibutions to public charities of $40,000 in 2020 and $35,000 in 2021. Assume the contribution limitation is 60% of AGI for both years. Required: 1) Compute the allowed contributions for 2020 and 2022 2) Compute the contribution carryover to 2022 (if any)

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