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Oak Corporation holds the following general business credit carryovers: 2016 $4,250 2017 12,750 2018 5,250 2019 16,750 Total carryovers $39,000 The Oak's general business credit
Oak Corporation holds the following general business credit carryovers: 2016 $4,250 2017 12,750 2018 5,250 2019 16,750 Total carryovers $39,000 The Oak's general business credit generated by 2020 activities equals $31,200 and the total credit allowed during the current year is $51,000 (based on tax liability). a. Enter the amount (if any) of each year's carryover utilized in 2020. Amount of Year Carryover Utilized 2016 2017 2018 $ 2019 2020 b. What is the amount of any unused credits carried forward to 2021
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