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Problem 13-25 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2016 $19,250 2017 57,750 2018 20,250 2019 61,750 $159,000 Total carryovers
Problem 13-25 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2016 $19,250 2017 57,750 2018 20,250 2019 61,750 $159,000 Total carryovers The general business credit generated by activities during 2020 equals $127,200 and the total credit allowed during the current year is $231,000 (based on tax liability) a. Enter the amount (if any) of each year's carryover utilized in 2020. Amount of Carryover Utilized Year 2016 $ 2017 tA 2018 $ 2019 2020 b. What is the amount of any unused credits carried forward to 2021? $
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