When comparing corporate and individual taxation the, Ask an Expert

Accounting

When comparing corporate and individual taxation the following statements are true, except:

a. Individuals have exemptions and a standard deduction, corporations do not.

b. Both types of taxpayers have percentage limitations on the charitable contribution deduction, coupled with a carryover of the excess contribution.

c. All taxpayers may carry net operating losses back two years, forward 20.

d. Both corporate and individual taxpayers may have a long-term capital loss carryforward.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M938749

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