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Review - REG > carryforwards/backs > Flashcards

carryforwards/backs Flashcards

1
Q

179 expense

A

carry excess

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2
Q

Passive Activity Loss carry

A

No Carry Back

Carry Forward Forever

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3
Q

Investment Int Exp in excess over Investment Inc

A

carry Forward forever

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4
Q

Charitable Cont

A

carry forward 5

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5
Q

AMT Paid

A

Carry Forward Forever

Apply against future income tax - NOT against future AMT liabilities

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6
Q

Capital Loss - Individual

A

$3,000 limit
anything over 3k carried forward forever
Loss retains character

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7
Q

Capital Loss - Corp

A

Carry back 3/ forward 5

Loss only carried forward as a STCL

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8
Q

NOL

A

back 2

forward 20

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Review - REG (16 decks)

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