Required information [The following information applies to the questions displayed below.] In 2023, OCC Corporation made a charitable donation of $400,000 to the International Rescue Committee (a qualifying charity). For the year, OCC reported taxable income of $1,500,000 before deducting any charitable contributions, before deducting its $20,000 dividends-received deduction, and before deducting its $40,000 NOL carryover from last year. a. What amount of the $400,000 donation is OCC allowed to deduct for tax purposes in 2023, what is the carryover to 2024, and when does the carryover expire? Deductible donation Carryover Carryover expires after $ 150,000 $ 250,000

Required information [The following information applies to the questions displayed below.] In 2023, OCC Corporation made a charitable donation of $400,000 to the International Rescue Committee (a qualifying charity). For the year, OCC reported taxable income of $1,500,000 before deducting any charitable contributions, before deducting its $20,000 dividends-recelved deduction, and before deducting its $40,000NOL carryover from last year. What amount of the $400,000 donation is OCC allowed to deduct for tax purposes in 2023 , what is the carryover to 2024 , and when does the carryover expire? Required information [The following information applies to the questions displayed below] In 2023, OCC Corporation made a charitable donation of $400,000 to the International Rescue Committee (a qualifying charity). For the year, OCC reported taxable income of $1,500,000 before deducting any charitable contributions, before deducting its $20,000 dividends-received deduction, and before deducting its $40,000NOL carryover from fast year. b. Assume that in 2024, OCC did not make any charitable donations and that it is allowed to deduct its full charitable contribution carryover, if any, from 2023. What book-tax difference associated with the charitable contributions will OCC report in 2024 ? is the difference favorable or unfavorable? is it permanent or temporary