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Popu 19-24 Corporate Tax Computation. X Corporation had the following items of income for its calendar year 2019: Net income from operations ..... Dividends received

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Popu 19-24 Corporate Tax Computation. X Corporation had the following items of income for its calendar year 2019: Net income from operations ..... Dividends received (subject to 50% rules)........ Charitable contributions. Net operating loss carryover from 2018.... Long-term capital gains........ Long-term capital losses ....... Short-term capital gains. . . Capital loss carryover from 2018. $160,000 11,000 28,000 32,000 9,000 6,000 3,500 11,000 a. Compute X Corporation's 2019 income tax liability before credits or prepayments. b. What is the nature and amount of any carryover to 2020? Popu 19-24 Corporate Tax Computation. X Corporation had the following items of income for its calendar year 2019: Net income from operations ..... Dividends received (subject to 50% rules)........ Charitable contributions. Net operating loss carryover from 2018.... Long-term capital gains........ Long-term capital losses ....... Short-term capital gains. . . Capital loss carryover from 2018. $160,000 11,000 28,000 32,000 9,000 6,000 3,500 11,000 a. Compute X Corporation's 2019 income tax liability before credits or prepayments. b. What is the nature and amount of any carryover to 2020

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