Question: In 2 0 2 4 , LAA Incorporated made a charitable donation of $ 1 1 8 , 0 0 0 to the Trevor Project

In 2024, LAA Incorporated made a charitable donation of $118,000 to the Trevor Project (a qualifying charity). For the year, LAA reported taxable income of $568,000, which included a $118,000 charitable contribution deduction (before limitation) and a $51,800 dividends-received deduction, and a $18,900 net operating loss carryover from 2023. What is LAA Incorporated's charitable contribution deduction for 2024?

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