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Business, 06.11.2019 06:31 elise47

In year 1 (the current year), laa inc. made a charitable donation of $141,000 to the american red cross (a qualifying charity). for the year, laa reported taxable income of $639,000, which included a $141,000 charitable contribution deduction (before limitation), a $57,000 dividends received deduction, a $20,100 domestic production activities deduction, and a $20,400 net operating loss carryover from year 0. what is laa inc.’s charitable contribution deduction for year 1?

charitable contribution deduction

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In year 1 (the current year), laa inc. made a charitable donation of $141,000 to the american red cr...

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