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Problem 13-27 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2018 2019 2020 2021 Total carryovers $15,500 46,500 16,500 50,500
Problem 13-27 (Algorithmic) (LO. 2) Oak Corporation has the following general business credit carryovers: 2018 2019 2020 2021 Total carryovers $15,500 46,500 16,500 50,500 $129,000 The general business credit generated by activities during 2022 equals $103,200 and the total credit allowed during the current year is $186,000 (based on tax liability). a. Enter the amount (if any) of each year's carryover utilized in 2022. Amount of Carryover Year 2018 2019 2020 2021 2022 Utilized b. What is the amount of any unused credits carried forward to 2023?
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