Pluto Corporation contributes $30,000 to qualified charitable organizations during 2016.Pluto's 2016 taxable income before any charitable contribution deduction is $280,000.Included in that amount is a $10,000 dividend-received deduction amount.Pluto also has a carryover charitable contribution of $2,000 from 2015.What is the maximum amount Pluto Corporation can deduct as a charitable contribution for 2016?
A)$- 0 -
B)$28,000
C)$29,000
D)$30,000
E)$35,000

Question

Quizplus · Accepted Answer

The Answer of Pluto Corporation contributes $30,000 to qualified charitable organizations during 2016.Pluto's 2016 taxable income before any charitable contribution deduction is $280,000.Included in that amount is a $10,000 dividend-received deduction amount.Pluto also has a carryover charitable contribution of $2,000 from 2015.What is the maximum amount Pluto Corporation can deduct as a charitable contribution for 2016?
A)$- 0 -
B)$28,000
C)$29,000
D)$30,000
E)$35,000

Pluto Corporation Contributes $30,000 to Qualified Charitable Organizations During 2016