Can someone please help me out with these last questions and explain it to me on how you get the answer.
Homework: Homework | Ch 3 - The Corporate Income Tax Score: 0.71 of 1 pt PC:3-44 (book/static) 9 of 11 (9 complete) Beta Corporation reports the following results for the current year. (Click on the icon to view the results for the current year.) In addition, Beta has a $10,000 NOL carryover from the preceding tax year. Read the requirements Data Table - $ 180,000 100.000 Requirement a. What is Beta's taxable income for the current year? Begin by computing Beta's taxable income before special deductions. (Enter the special deductions in the specific sequence dictated by the tax rules.) Gross income from operations $ 180,000 Dividends received 100,000 Gross income 280,000 Minus: Operating expenses (150,000) Charitable contributions deduction (12.000) Taxable income before special deductions 118,000 Minus: Dividends-received deduction (50,000) NOL carryover from preceding year (10,000) Taxable income $ 58,000 Requirement b. What carryovers are available to other tax years? (If an input field is not used in the table leave the input field empty; do not select a label Gross income from operations Dividends from less-than-20%-owned domestic corporations Operating expenses Charitable contributions 150.000 20.000 Print Done enter a zero.) Amount Type of carryback/carryover Charitable contribution deduction carryback to the last five years Homework: Homework | Ch 3 - The Corporate Income Tax Score: 0.71 of 1 pt PC:3-44 (book/static) 9 of 11 (9 complete) Beta Corporation reports the following results for the current year. (Click on the icon to view the results for the current year.) In addition, Beta has a $10,000 NOL carryover from the preceding tax year. Read the requirements Data Table - $ 180,000 100.000 Requirement a. What is Beta's taxable income for the current year? Begin by computing Beta's taxable income before special deductions. (Enter the special deductions in the specific sequence dictated by the tax rules.) Gross income from operations $ 180,000 Dividends received 100,000 Gross income 280,000 Minus: Operating expenses (150,000) Charitable contributions deduction (12.000) Taxable income before special deductions 118,000 Minus: Dividends-received deduction (50,000) NOL carryover from preceding year (10,000) Taxable income $ 58,000 Requirement b. What carryovers are available to other tax years? (If an input field is not used in the table leave the input field empty; do not select a label Gross income from operations Dividends from less-than-20%-owned domestic corporations Operating expenses Charitable contributions 150.000 20.000 Print Done enter a zero.) Amount Type of carryback/carryover Charitable contribution deduction carryback to the last five years
