TB TF Qu. 16-21 (Static) Net capital loss carryovers are deductible against... 9 Net capital loss carryovers are deductible against net capital gains in determining a corporation's net operating loss for the year. 2 points True or False 8 01:45:43 True False TB CARES TF Qu. 16-27 (Static) Corporations are not allowed to deduct... 11 Corporations are not allowed to deduct charitable contributions in excess of a percentage of modified taxable income limitation (before the charitable contribution and certain other deductions). Assume CARES Act applies. 2 points 8 01:42:56 True or False True False TB CARES TF Qu. 16-18 (Static) Corporations may carry a net operating... 7 Corporations may carry a net operating loss sustained in 2020 forward 20 years but it cannot carry it back. Assume CARES Act applies. 2 points 8 01:48:08 True or False True False TB TF Qu. 16-06 (Static) An unfavorable temporary book-tax difference is... 3 An unfavorable temporary book-tax difference is so named because it causes taxable income to decrease relative to book income in the current year. 2 points 8 01:55:04 True or False True False TB TF Qu. 16-13 (Static) A nonqualified stock option will always create a... 6 A nonqualified stock option will always create a permanent book-tax difference in a given year if it vests during the year but is exercised in a later year. 2 points 8 01:49:15 True or False True False TB TF Qu. 16-02 (Static) Corporations and individuals are allowed to claim... 2 Corporations and individuals are allowed to claim the qualified business income deduction 2 points True or False 01:55:12 True False