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.

Question

Quizplus · Accepted Answer

Excess charitable contributions can be carried over to a maximum of five succeeding years, after which they expire and cannot be deducted.

If a Corporation's Charitable Contributions Exceed the Deduction Limitation in a Particular