Question 24

of income or prepayments come for 19.24 Corporate Tar Computation. X Corporation had the following items its calendar year 2018: $160,000 11,000 28,000 . . . . . . . . Net income from operations . .. .. . Dividends received (subject to 50% rules) Charitable contributions.... Net operating loss carryover from 2017. . . . . . . . . 9,000 6,000 3,500 11,000 Long-term capital losses gains.. Capital loss carryover from 2017 a. Compute X Corporation's 2018 income tax liability before credits or prepayments. b. What is the nature and amount of any carryover to 2019? 19-25 Corporate Formation Individuals J and R form the JR Corporation. J ransr(che as an nanefers all the de