Unlike individuals, corporations with excess capital losses in the current year are allowed to carry these losses back five years and forward three years to offset capital gains in the carryback or carryforward years. True O False Ignoring the safe harbor rule, to avoid a penalty for underpayment of estimated taxes, at least 100% of the corporation's tax due for the year must be paid as estimated taxes. O True O False In corporate formation, stock for services is included for the control test if the shareholder also transfers property that is at least 10 percent of the value of stock received for services O True O False Bad debts of a corporation are generally deducted using the direct write-off method. O True False A shareholder qualifies for a substantially disproportionate redemption when his interest drops from 60 percent to 45 percent. O True O False