Walker Inc. has accumulated minimum tax credits of $740,000 from tax years prior to 2018. Below are Walker's regular tax before credits for 2018 through 2021.

$\begin{array}{llcc}
&2018&2019&2020&2021\
\text { Regular tax before credita}&\$50,000&\$60,000&\$40,000&\$30,000\
\end{array}$
Complete the following table to calculate Walker's allowable minimum tax credit each year.
$\begin{array}{llr}
&2018&2019&2020&2021\
\text {Nonrefundable portion of minimum tax credit } &\
\text { Refundable portion of minimum tax credit} &\
\text { Total minimum tax aredit used } &
\end{array}$

Question

Walker Inc. has accumulated minimum tax credits of $740,000 from tax years prior to 2018. Below are Walker's regular tax before credits for 2018 through 2021.
 
$\begin{array}{llcc}
&2018&2019&2020&2021\
 \text { Regular tax before credita}&\$50,000&\$60,000&\$40,000&\$30,000\
\end{array}$
 Complete the following table to calculate Walker's allowable minimum tax credit each year.
 $\begin{array}{llr}
&2018&2019&2020&2021\
  \text {Nonrefundable portion of minimum tax credit  } &\
 \text {  Refundable portion of minimum tax credit} &\
 \text {  Total minimum tax aredit used } &
\end{array}$

Quizplus · Accepted Answer

The Answer of Walker Inc. has accumulated minimum tax credits of $740,000 from tax years prior to 2018. Below are Walker's regular tax before credits for 2018 through 2021.
 
$\begin{array}{llcc}
&2018&2019&2020&2021\
 \text { Regular tax before credita}&\$50,000&\$60,000&\$40,000&\$30,000\
\end{array}$
 Complete the following table to calculate Walker's allowable minimum tax credit each year.
 $\begin{array}{llr}
&2018&2019&2020&2021\
  \text {Nonrefundable portion of minimum tax credit  } &\
 \text {  Refundable portion of minimum tax credit} &\
 \text {  Total minimum tax aredit used } &
\end{array}$