Question
Question 33. (9 points) Molly has generated general business credits over the years that have not been utilized. The amounts generated and not utilized equal:
Question 33. (9 points) Molly has generated general business credits over the years that have not been utilized. The amounts generated and not utilized equal:
2016 | $2,500 |
2017 | 7,500 |
2018 | 5,000 |
2019 | 4,000 |
In the current year, 2020, her business generates an additional $15,000 general business credit. In 2020, based on her tax liability before credits, she can utilize a general business credit of up to $20,000. After utilizing the carryforwards and the current year credits, how much of the general business credit generated in 2020 is available for future years
Answer:
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