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Module Two Tax Research Saved 1 In 2023, LAA Incorporated made a charitable donation...

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Accounting

Module Two Tax Research
Saved
1 In 2023, LAA Incorporated made a charitable donation of $140,000 to the Trevor Project (a qualifying charity). For the year, LAA reported taxable income of $590,000, which included a $140,000 charitable contribution deduction (before limitation) and a $54,000 dividends-received deduction, and a $140,000 net operating loss carryover from 2022.
What is LAA Incorporated's charitable contribution deduction for 2023? Assume the charitable donation is not a qualified contribution
100 because LAA Incorporated did not make the necessary election.
points
0153:58
\table[[Charitable contribution deduction for 2023,$,25,600
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