What happens to the portion that is not deducible

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Reference no: EM131219609

Alsop Corporation, a calendar year C Corp, had the following income and expenses in 2015:

Income from Operations $450,000

Expenses from Operations 185,000

Dividends Received (30% ownership) 70,000

Capital Loss Carry back 22,000

Charitable Contribution 115,000

a. What is Alsop Corporation’s charitable deduction for 2015?

b. What happens to the portion that is not deducible, if any?

Reference no: EM131219609

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