Question: In 2 0 2 3 , OCC Corp. made a charitable donation of $ 1 0 0 , 0 0 0 to the International Rescue

In 2023, OCC Corp. made a charitable donation of $100,000 to the International Rescue
Committee (a qualifying charity). For the year, OCC reported taxable income of $1,200,000
after deducting the charitable contributions of $100,000, before deducting its $20,000 dividends
received deduction, and before deducting its $40,000 NOL carryover from last year.
16. What amount of the $400,000 donation is OCC allowed to deduct for tax purposes in
2023, what is the carryover to 2024, and when does the carryover expire?
17. Assume that in 2024, OCC did not make any charitable donations and that it is allowed to
deduct its full charitable contribution carryover, if any, from 2023. What book-tax difference
associated with the charitable contributions will OCC report in 2024?

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