LO.2, 3 Some tax attributes (e.g., income, deductions, and credits) are available to individuals only, corporations only, or both. In this connection, comment on the following:

a. Foreign tax credit.

b. Earned income credit.

c. Nontaxability of certain like-kind exchanges.

d. Domestic production activities deduction.

e. Recapture of depreciation on disposition of certain business property.

f. Amortization of organizational expenditures.