In 2021, Remsco has taxable income of $66,000 and a charitable contribution limit modified taxable income of

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In 2021, Remsco has taxable income of $66,000 and a charitable contribution limit modified taxable income of $29,400. Remsco donated cash of $8,040 to a qualified public charity. What is Remsco's current-year charitable contribution deduction assuming Remsco makes any elections necessary to maximize its charitable contribution deduction?

$16,500 current-year deduction
$8,040 current-year deduction
$8,760 current-year deduction
$7,350 current-year deduction

Posted Date: Dec 07, 2021 03:53 PM

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In 2021, Remsco has taxable income of $66,000 and a charitable contribution limit modified taxable income of

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Remco may deduct his qualified cont... View the full answer

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