Problem $11-9$

Special Deductions and Limitations $($LO $11\mathrm{.}3)$

In $2023,$ Citradoria Corporation is a corporation that contributes $$35,000$ cash to qualified charitable organizations during the current tax year. The corporation has net operating income of $$91,000,$ before deducting the contributions, and adding dividends receiv$$ from domestic corporations $($ownership in all corporations is less than $20$ percent$)$ in the amount of $$25,000.$

a$.$ What is the amount of Citradoria Corporation's allowable deduction for charitable contributions for $2023?$

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b$.$ In $2024,$ Citradoria contributes $$4,000$ to charitable organizations. The corporation has net operating income of $$250,000$ before deducting the contributions, and no dividend income. What is the amount of Citradoria's allowable deduction for charitable contributions in $2024?$

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c$.$ If there is any carryover of the charitable contribution deduction from $2024,$ what year will it expire?