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Problem 13-25 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2015 $11,750 2016 35,250 2017 12,750 2018 39,250 Total carryovers $99,000
Problem 13-25 (Algorithmic) (LO. 2)
Oak Corporation has the following general business credit carryovers:
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The general business credit generated by activities during 2019 equals $79,200 and the total credit allowed during the current year is $141,000 (based on tax liability).
a. Enter the amount (if any) of each year's carryover utilized in 2019.
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b. What is the amount of any unused credits carried forward to 2020?
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