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Parent and Subsidiary Corporations Form an Affiliated Group

question 24

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Parent and Subsidiary Corporations form an affiliated group. Last year, the initial year of operation, Parent and Subsidiary filed separate returns. This year, the group files a consolidated tax return. The results for last year and the current year are: Parent and Subsidiary Corporations form an affiliated group. Last year, the initial year of operation, Parent and Subsidiary filed separate returns. This year, the group files a consolidated tax return. The results for last year and the current year are:   How much of Subsidiary's loss can be carried back to last year? A)  $0 B)  $20,000 C)  $25,000 D)  none of the above How much of Subsidiary's loss can be carried back to last year?


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