Exercise 17-1 (LO. 2) Carlson's (a sole proprietor) general business credit for the current year is $84,000. His net income tax is $190,000, tentative minimum tax is $175,000, and net regular tax liability is $185,000. He has no other tax credits. Determine the amount of Carlson's general business credit for the year. Carlson's general business credit allowed for the year is $ may be carried back or forward. and his unused general business credit of $

Exercise 17-1 (LO. 2) Carison's (a sole proprietor) general business credit for the current year is $84,000. His net income tax is $190,000, tantative minimum tax is $175,000, and net regular tax liability is $185,000. He has no other tax credits. Determine the amount of Carlson's general business credit for the year. Carlson's general business credit allowed for the year is $ and his unused general business credit of $ may be carried back or forward