During 2015, Jackson Corp. had the following income and expenses: Gross income from operations : $100,000 Dividend income from taxable domestic 20%-owned corporation : $10,000 Operating expenses : $35,000 Officers' salaries: $20,000 Contributions to qualified charitable organizations: $8,000 Net operating loss carryforward from 2014: $30,000 What is the amount of Jackson Corp.'s charitable contribution carryover to 2016?

During 2015, Jackson Corp. had the following income and expenses: Gross income from operations : $100,000 Dividend income from taxable domestic 20%-owned corporation : $10,000 Operating expenses : $35,000 Officers' salaries: $20,000 Contributions to qualified charitable organizations: $8,000 Net operating loss carryforward from 2014: $30,000 What is the amount of Jackson Corp.'s charitable contribution carryover to 2016?

During 2015, Jackson Corp. had the following income and expenses:
Gross income from operations : $100,000
Dividend income from taxable domestic 20%-owned corporation : $10,000
Operating expenses : $35,000
Officers' salaries: $20,000
Contributions to qualified charitable organizations: $8,000
Net operating loss carryforward from 2014: $30,000
What is the amount of Jackson Corp.'s charitable contribution carryover to 2016?






a. $0
b. $2,500
c. $5,500
d. $6,300





Answer: C