What is Xanthippe Inc charitable contribution deduction

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Question - In 2018, Xanthippe, Inc. made a charitable donation of $100,000 to a qualifying charity. In addition, Xanthippe has $300,000 of operating revenues and $350,000 of operating expenses. Xanthippe also received a $120,000 dividend from Vorhees Corp, a 14% owned subsidiary of Xanthippe. What is Xanthippe Inc.'s charitable contribution deduction and taxable income for 2018?

Reference no: EM132199428

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