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  3. remsco has taxable income of $73,000 and a charita

Remsco has taxable income of $73,000 and a charitable contribution limit modified taxable income of...

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Accounting

Remsco has taxable income of $73,000 and a charitable contribution limit modified taxable income of $78,500. Its charitable contributions for the year were $8,020. What is Remsco's current-year charitable contribution deduction and contribution carryover (assuming Remsco does not elect to use the 25% of modified taxable income to determine its charitable contribution deduction)?

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