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Business, 06.04.2021 02:00 allhailkingmilkdud

Special Deductions and Limitations (LO 11.3) In Year 1, Citradoria Corporation is a regular corporation that contributes $35,000 cash to qualified charitable organizations during the current tax year. The corporation has net operating income of $145,000, before deducting the contributions, and dividends received 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 Year 1

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Special Deductions and Limitations (LO 11.3) In Year 1, Citradoria Corporation is a regular corporat...
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