Test Your Might: REG – Individual Taxation

January 25, 2013 NINJA CPA Review

CPA Exam Section: Regulation

CPA Review Topic: Individual Taxation

Question: Charitable contributions subject to the 50% limit that are not fully deductible in the year made may be

a. Neither carried back nor carried forward.
b. Carried back 2 years or carried forward 20 years.
c. Carried forward indefinitely until fully deducted.
d. Carried forward 5 years.

Source: Wiley Test Bank