Identify which of the following statements is true.
A) If a corporation accrues an obligation to pay compensation, the corporation must make the payment by year- end to be able to deduct during the current year.
B) Any amount of net business interest disallowed due to limitation may be carried over indefinitely.
C) Net business interest is limited to 50% of adjusted taxable income.
D) Corporations can deduct up to $10,000 in capital losses per year.
Correct Answer:
Verified
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