If a Corporation's Charitable Contributions Exceed the Deduction Limitation in a Particular

question 67

Multiple Choice

If a corporation's charitable contributions exceed the deduction limitation in a particular year, the excess

• A)is not deductible in any future year.
• B)becomes a carryover to a maximum of five succeeding years.
• C)may be carried back to the third preceding year.
• D)is carried over indefinitely.

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Definitions:

E-Sign

The use of electronic signatures to sign documents and agreements, legally recognized as equivalent to handwritten signatures under certain jurisdictions and laws.

Electronic Records

Digital form of information storage, used across various sectors for efficient and accurate information management.

Uniform Electronic Transactions Act

A law adopted by many states in the U.S. that establishes the legal validity of electronic records and signatures in commercial and governmental transactions.

Electronic Contracts

Agreements formed, signed, or executed electronically, which are legally binding under electronic commerce laws.