Eagle, Inc. made a contribution to the Boy Scouts of $25,000 during its current tax year. The corporation's taxable income before any charitable contribution deduction was $200,000. The corporation has a current charitable contribution deduction of $25,000. 

True/False

Answer rating: 100% (QA)

The answer is false because annual deduction is limited to 10 of taxable income before the c... View the full answer