Find remsco current-year charitable contribution deduction, Taxation

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Find remsco current-year charitable contribution deduction

Problem: Remsco has 2022 taxable income of $15,000 and a charitable contribution limit modified taxable income of $172,000. Remsco donated $17,500 cash to a qualified public charity. What is Remsco's current-year charitable contribution deduction and contribution carryover?

Group of answer choices

$16,000 current-year deduction; $1,500 carryover.
$17,500 current-year deduction; $0 carryover.
$11,200 current-year deduction; $6,300 carryover.
$17,200 current-year deduction; $300 carryover.

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Taxation: Find remsco current-year charitable contribution deduction

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