Question: Check my work In year 1 (the current year), LAA Inc. made a charitable donation of $121,500 to the American Red Cross (a qualifying charity).

Check my work In year 1 (the current year), LAA Inc.

Check my work In year 1 (the current year), LAA Inc. made a charitable donation of $121,500 to the American Red Cross (a qualifying charity). For the year, LAA reported taxable income of $581,000, which included a $121,500 charitable contribution deduction (before limitation), a $67,500 dividends received deduction, and a $15,800 net operating loss carryover from year 0. 10 points What is LAA Inc.'s charitable contribution deduction for year 1? Charitable contribution deduction for year 1 eBook Print References

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