Robots Inc. reports the following financial data for last year gross income from sales and services 200,000 wages and cost recovery or other expenses 180,000 dividend income from at least 20% owned to US corporations 40,000 net operating loss carryover 20,000 capital losses 10,000 charitable contribution carryover 7000 current charitable contributions 11,000 question what is Roberts charitable contribution deduction.

Question:

How much of the charitable contribution carryover is used up?

What is taxable income?

Answer rating: 100% (QA)

To determine the charitable contribution deduction we need to calculate the total deductible expense... View the full answer