Identify the correct statement below regarding similarities and differences of corporate and individual taxation.
a. If long-term capital losses exceed their allowable yearly offset to ordinary income, both individuals and corporations may carry forward the losses and claim them as long-term capital losses in future years, subject to certain limitations for corporations.
b. Both individuals and corporations can utilize the like-kind exchange provisions of Code Section 1031.
c. Both individuals and corporations must distinguish between deductions for and deductions from in calculating taxable income.
d. Corporations can claim the Domestic Production Activities Deduction (DPAD), but individuals cannot.