Pluto Corporation Contributes $30,000 to Qualified Charitable Organizations During 2014

question 8

Multiple Choice

Pluto Corporation contributes $30,000 to qualified charitable organizations during 2014. Pluto's 2014 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 2013. What is the maximum amount Pluto Corporation can deduct as a charitable contribution for 2014?

• A) $- 0 -
• B) $28,000
• C) $29,000
• D) $30,000
• E) $35,000

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