Egret Corporation,a Calendar Year Taxpayer,had an Excess Charitable Contribution for 2007

True/False

Egret Corporation,a calendar year taxpayer,had an excess charitable contribution for 2007 of $10,000.In 2008,it made a further charitable contribution of $14,000.Its 2008 deduction is limited to $16,000.In applying the 10% limitation,the $10,000 carryover must be used after the current year contribution.