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Zahra Corporation reports the following results for Year 1 (2021) and Year 2 (2022): F: (Click the icon to view the results for Year 1
Zahra Corporation reports the following results for Year 1 (2021) and Year 2 (2022): F: (Click the icon to view the results for Year 1 and Year 2.) The adjusted taxable income is before Zahra claims any charitable contributions deduction, or dividends-received deduction. Read the requirements. Requirement a. How much is Zahra's charitable contributions deduction in Year 1 assuming Zahra elects to use the 25% limitation on charitable contributions? In Year 2? The corporation's charitable contributions deduction in Year 1 (2021) = The corporation's charitable contributions deduction in Year 2 (2022) = Requirement b. What is Zahra's contribution carryover to Year 3, if any? (If there is no charitable contributions carryover, enter "O".) The corporation's contribution carryover to Year 3 = Data Table Year 1 Year 2 $ 140,000 $ Adjusted taxable income Charitable contributions (cash) 325,000 30,000 39,000 Next Print Done
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