Which of the Following Statements Regarding Excess Charitable Contributions (Contributions

question 29

Multiple Choice

Which of the following statements regarding excess charitable contributions (contributions in excess of the modified taxable income limitation) by corporations is true?

• A)Corporations may not carry over or carry back excess charitable contributions.
• B)Corporations can carry excess charitable contributions over to a future year or back to a prior year.
• C)Corporations can carry excess charitable contributions over to a future year but not back to a prior year.
• D)Corporations can carry excess charitable contributions back to a prior year but not over to a future year.

---

Definitions:

Fruit Flies

Small flies belonging to the family Drosophilidae, often used in genetic research due to their short life cycles and simple genetic makeup.

Generations

Groups of individuals, most often in a society, born and living about the same time, sharing similar cultural experiences or historical events.

Homo Sapiens

The scientific name for modern humans, the only extant species of the genus Homo.

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.