Question: 5. If a corporations charitable contributions exceed the limitation for deductibility in a particular year, the excess a. Is not deductible in any future or

5. If a corporation’s charitable contributions exceed the limitation for deductibility in a particular year, the excess

a. Is not deductible in any future or prior year.

b. May be carried back or forward for one year at the corporation’s election.

c. May be carried forward to a maximum of five succeeding years.

d. May be carried back to the third preceding year.

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