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Remsco has taxable income of $68,000 and a charitable contribution limit modified taxable income of $76,000. Its charitable contributions for the year were $7,820. What
Remsco has taxable income of $68,000 and a charitable contribution limit modified taxable income of $76,000. Its charitable contributions for the year were $7,820. What is Remsco's current-year charitable contribution deduction and contribution carryover? Multiple Choice $6,800 current-year deduction; $1,020 carryover. $7,820 current-year deduction; $0 carryover. $800 current-year deduction; $7020 carryover. $7,600 current-year deduction; $220 carryover
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