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Please complete the following table: Taxable Income Increase (Decrease) Adjustment to Taxable Income...

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Question

Accounting

Please complete the following table:
Taxable Income
Increase
(Decrease)
Adjustment to
Taxable
Income to get
to E&P
a. Charitable contribution of 64,000 in 2023. Only
20,000 can be deducted in the current year due to the
taxable income limitation.
b. Impact of the contribution from part (a) in 2024
(assuming no taxable income limitation).
c. Husband sells stock to his wife for a realized loss of
(10,000).

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