If a corporations charitable contributions exceed the limitation for deductibility in a particular year, the excess a)
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Question:
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 to the preceding year.
c) May be carried forward to a maximum of 5 succeeding years.
d) May be carried back or forward for 1 year at the corporation’s election.
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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