In $2023,$ LAA Incorporated made a charitable donation of $$122,000$ to the Trevor Project $($a qualifying charity$).$ For the year, LAA reported taxable income of $$572,000,$ which included a $$122,000$ charitable contribution deduction $($before limitation$)$ and a $$52,200$ dividends$-$received deduction, and a $$122,000$ 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.

Charitable contribution deduction for $2023$

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In $2023,$ LAA Incorporated made a charitable donation of $$122,000$ to the Trevor Project $($a qualifying charity$).$ For the year, LAA reported taxable income of $$572,000,$ which included a $$122,000$ charitable contribution deduction $($before limitation$)$ and a $$52,200$ dividends$-$received deduction, and a $$122,000$ 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.

Answer is complete but not entirely correct.

Charitable contribution deduction for $2023$

$$,86,820$