Adelyn generated a tentative general business credit of $42,000 for the current year. Her net regular tax liability before the general business credit is $107,000, and her tentative minimum tax is $88,000. Complete the statements below regarding Adelyn's limitation on the general business credit.

(a) Adelyn's general business credit is limited to his net income tax reduced by the of his tentative minimum tax or of the net regular tax liability that exceeds $ .

Therefore, Charles's allowable general business credit for the year is $ .

1. greater

2. 25%

3. $25000

4. $19000

Explanation:

Adelyn's general business credit is limited to his net income tax reduced by the greater of his tentative minimum tax or 25% of the net regular tax liability that exceeds $25000. Therefore, Adelyn's allowable general business credit for the year is $19000.

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.