Zahra Corporation reports the following results for Year 1 and Year 2:

ACC 455 Entire Course Link

https://uopcourses.com/category/acc-455/

 

 Zahra Corporation reports the following results for Year 1 and Year 2:

 
Year 1
 
Year 2
Adjusted taxable income
$110,000
 
$280,000
Charitable contributions (cash)
16,500
 
23,500
The adjusted taxable income is before Zahra

claims any charitable contributions deduction, NOL or capital loss carryback, dividends-received deduction, or U.S. production activities deduction.

Read the

requirements

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.

Requirement a. How much is Zahra's

charitable contributions deduction in Year 1? In Year 2?

Zahra's charitable contributions deduction in Year 1 is $
 
.
 

Zahra's charitable contributions deduction in Year 2 is $
 
.
Requirement b. What is

Zahra's contribution carryover to Year 3, if any? (If there is no charitable contributions carryover, enter "0".)

Zahra's contribution carryover to Year 3 is $
 
.
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