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How much of the general business credit generated

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Question - Michael has generated general business credits over the years that have not been utilized. The amounts generated and not utilized follow:

2010

$3,500

2011

6,500

2012

6,000

2013

7,500

In the current year, 2014, his business generates an additional $17,000 general business credit. In 2014, based on his tax liability before credits, he can utilize a general business credit of up to $25,000. After utilizing the carry forwards and the current year credits, how much of the general business credit generated in 2014 is available for future years?

a. $15,500.

b. $1,000.

c. $14,000.

d. $15,000.

Reference no: EM132069478

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