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Remsco has taxable income of $60,000 and a charitable contribution limit modified taxable income of $72,000. Its charitable contributions for the year were $7, 500.
Remsco has taxable income of $60,000 and a charitable contribution limit modified taxable income of $72,000. Its charitable contributions for the year were $7, 500. What is Remsco's current-year charitable contribution deduction and contribution carryover? A. $6,000 current-year deduction; $1, 500 carryover B. $7, 500 current-year deduction; $0 carryover C. $1, 200 current-year deduction; $6, 300 carryover D. $7, 200 current-year deduction; $300 carryover
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