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Oak Corporation holds the following general business credit carryovers: $17,750 2015 2016 2017 53,250 18,750 2018 57,250 Total carryovers $147,000 Oak's general business credit generated
Oak Corporation holds the following general business credit carryovers: $17,750 2015 2016 2017 53,250 18,750 2018 57,250 Total carryovers $147,000 Oak's general business credit generated by 2019 activities equals $117,600 and the total credit allowed during the current year is $213,000 (based on tax liability). a. Enter the amount (if any) of each year's carryover utilized in 2019. Amount of Carryover Utilized Year 2015 2016 2017 2018 2019 b. What is the amount of any unused credits carried forward to 2020? x
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