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:

Initial Encounter

The first appointment or visit for a particular health issue or condition.

Open Bite

A dental condition where the upper and lower teeth do not touch when the mouth is closed.

Bruise

An injury to the skin causing discoloration and swelling without breaking the surface.

Contusion

A bruise resulting from a blunt impact, causing bleeding under the skin without breaking the skin's surface.