Question
Remsco has taxable income of $69,000 and a charitable contribution limit modified taxable income of $76,500. Its charitable contributions for the year were $7,860. What
Remsco has taxable income of $69,000 and a charitable contribution limit modified taxable income of $76,500. Its charitable contributions for the year were $7,860. What is Remsco's current-year charitable contribution deduction and contribution carryover(assuming Remsco does not elect to use the 25% of modified taxable income to determine its charitable contribution deduction)?
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
