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During the current year, Kingbird Corporation (a calendar year C corporation) had the following income and expenses:

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During the current year, Kingbird Corporation (a calendar year C corporation) had the following income and expenses;Income from operations;$135,000;Expenses from operations;99,000;Dividends received (40% ownership);9,000;Domestic production activities deduction;2,700;On October 1, Kingbird Corporation made a contribution to a qualified charitable organization of $6,300 in cash (not included in any of the above items). Determine Kingbird?s charitable contribution deduction for the current year.

 

Paper#32402 | Written in 18-Jul-2015

Price : $27
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