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Compute the group charitable contribution deduction

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Question - ParentCo's separate taxable income was $350,000, and SubCo's was $225,000. Consolidated taxable income before contributions was $400,000. Charitable contributions made by the affiliated group included $15,000 by ParentCo and $20,000 by SubCo. Compute the group's charitable contribution deduction.

$57,500.

$40,000.

$35,000.

$0.

Reference no: EM131818312

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