In 2022, Remsco has taxable income of $60,000 and a charitable contribution limit modified taxable...
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Accounting
In 2022, Remsco has taxable income of $60,000 and a charitable contribution limit modified taxable income of $28,800. Remsco donated cash of $7,500 to a qualified public charity. What is Remsco's current-year charitable contribution deduction assuming Remsco makes any elections necessary to maximize its charitable contribution deduction?
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$6,750 current-year deduction
$7,500 current-year deduction
$0 current-year deduction
$2,880 current-year deduction
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