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Problem 12-21 (LO. Oak Corporation holds the following general business credit carryovers: 2017 $5,000 2018 15,000 2019 6,000 2020 19,000 Total carryovers $45,000 If Oak's

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Problem 12-21 (LO. Oak Corporation holds the following general business credit carryovers: 2017 $5,000 2018 15,000 2019 6,000 2020 19,000 Total carryovers $45,000 If Oak's general business credit generated by 2021 activities equals $36,000 and the total credit allowed during the current year is $60,000 (based on tax liability). a. Enter the amount (if any) of each year's carryover utilized in 2021. Amount of Carryover Utilized Year 2017 2018 $ 2019 $ 2020 $ 2021 X b. What is the amount of any unused credits carried forward to 2022? 21,000

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