Multiple Choice
Molly has generated general business credits over the years that have not been utilized.The amounts generated and not utilized equal: In the current year, 2019, her business generates an additional $15,000 general business credit.In 2019, based on her tax liability before credits, she can utilize a general business credit of up to $20,000.After utilizing the carryforwards and the current year credits, how much of the general business credit generated in 2019 is available for future years?
A) $0.
B) $1,000.
C) $14,000.
D) $15,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q56: Which of the following, if any, correctly
Q57: Only married taxpayers with children can claim
Q58: Expenses that are reimbursed by a taxpayer's
Q59: The purpose of the tax credit for
Q60: Julia is 30 years old, unmarried with
Q62: An employee with another source of income
Q63: Which of the following correctly reflects current
Q64: In describing FICA taxes, which (if any)
Q65: The base amount for the Social Security
Q66: For purposes of computing the credit for