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Robots, Inc. reports the following financial data for last year: Gross income from sales and services $200,000 Wages, cost recovery and other expenses 180,000 Dividend
- Robots, Inc. reports the following financial data for last year:
Gross income from sales and services
$200,000
Wages, cost recovery and other expenses
180,000
Dividend income from at least 20 percent owned U.S. corporations
40,000
Net operating loss carryover
20,000
Capital losses
10,000
Charitable contribution carryover
7,000
Current charitable contributions
11,000
- What is Robots's charitable contribution deduction?
- How much of the charitable contribution carryover is used up?
- What is taxable income?
- What is the dividends-received deduction?
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