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In 2023, LAA Incorporated made a charitable donation of $106,000 to the Trevor Project (a...

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Accounting

In 2023, LAA Incorporated made a charitable donation of $106,000 to the Trevor Project (a qualifying charity). For the year, LAA reported taxable income of $556,000, which included a $106,000 charitable contribution deduction (before limitation) and a $50,600 dividends-received deduction, and a $106,000 net operating loss carryover from 2022.

What is LAA Incorporated's charitable contribution deduction for 2023? Assume the charitable donation is not a qualified contribution because LAA Incorporated did not make the necessary election.

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