Charitable Contribution Deduction Limitation
2007:
Adjusted taxable income $180,000 $125,000
Charitable contributions (cash) 20,000 12,000.
The adjusted taxable income is before Zeta claims any
charitable contributions deduction, NOL or capital loss carryback,
dividends-received deduction, or U.S. production activities deduction.
a. How much is Zeta’s charitable contributions deduction in
2006? In 2007?
b. What is Zeta’s contribution carryover to 2008, if any?





