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

question 107

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 carryforward 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:

Metacarpophalangeal

Refers to the joints between the metacarpal bones and the phalanges (fingers) of the hands, supporting movement such as bending.

Tibiotalar

Referring to the joint formed between the tibia (shinbone) and the talus (ankle bone), crucial for ankle movement.

Tarsometatarsal

Referring to the joint connections between the tarsal bones of the foot and the metatarsal bones of the forefoot.

Temporomandibular Joint

The joint connecting the jawbone to the skull, facilitating movements for chewing and speaking.