During 2007, Jackson Corp. had the following income and expenses:
|
Gross income from operations |
$100,000 |
|
Dividend income from taxable domestic 20%-owned corporations |
10,000 |
|
Operating expenses |
35,000 |
|
Officers’ salaries |
20,000 |
|
Contributions to qualified charitable organizations |
8,000 |
|
Net operating loss carryforward from 2006 |
30,000 |
What is the amount of Jackson Corp.’s charitable contribution carryover to 2008?
- $0
- $2,500
- $5,500
- $6,300