Allen C. Chamberlin and Martha L. Chamberlin - Page 17

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                         (2) Charitable contributions carryovers.--The                
                    carryover of excess charitable contributions                      
                    determined under section 170(d)(1).                               
                         (3) Recovery of tax benefits items.--Any                     
                    amount to which section 111 (relating to recovery                 
                    of tax benefit items) applies.                                    
                         (4) Credit carryovers, etc.--The carryovers                  
                    of any credit, and all other items which, but for                 
                    the commencement of the case, would be required to                
                    be taken into account by the debtor with respect                  
                    to any credit.                                                    
                         (5) Capital loss carryovers.--The capital                    
                    loss carryover determined under section 1212.                     
                         (6) Basis, holding period, and character of                  
                    assets.--In the case of any assets acquired (other                
                    than by sale or exchange) by the estate from the                  
                    debtor, the basis, holding period, and character                  
                    it had in the hands of the debtor.                                
                         (7) Method of accounting.--The method of                     
                    accounting used by the debtor.                                    
                         (8) Other attributes.--Other tax attributes                  
                    of the debtor, to the extent provided in                          
                    regulations prescribed by the Secretary as                        
                    necessary or appropriate to carry out the purposes                
                    of this section.                                                  
               The bankruptcy estate uses any tax attribute received from             
          the taxpayer plus its own attributes to reduce its taxable                  
          income.  See sec. 1398(g).  Certain tax attributes not used by              
          the bankruptcy estate are returned to the taxpayer upon                     
          termination of the estate.  See sec. 1398(i).                               
               From 1982 until 1985, petitioners could not use any of their           
          $1,255,400 carryover loss from Pharmacare to reduce taxable                 

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