Question
C Corporations Fiscal Year
I have a fiscal year C corporation with a year ending 8/31/2020 that made a charitable contribution in June 2020. Under the CARES act, it appears the deductible limitation should be 25% versus 10%. The 2019 Proseries program is using 10%. Am I correct that 25% should be the limitation? If yes, does anyone know if the 2019 Proseries program will be updated for this legislation change?
