A Consolidated NOL Carryover Is $52,000 at the Beginning the Year.Twenty-Five

question 30

Essay

A consolidated NOL carryover is $52,000 at the beginning the year.Twenty-five percent of the loss is allocable to Duke Corporation.Duke Corporation leaves the group in the middle of the affiliated group's tax year.Before Duke's departure,it had earnings of $15,000 for the year,and the remainder of the affiliated group earned a total of $25,000,or $40,000 of taxable income for the group,excluding any NOL carryover.Following its departure from the affiliated group,Duke earned $8,000 in its first separate return.How much of the $52,000 NOL can Duke use on its first separate return?

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Definitions:

Environment Influence

The impact of external factors, including physical, social, and cultural environments, on an individual's behavior, attitudes, and development.

Personality Psychologists

Experts who study individual differences in behavior, emotion, motivation, and thought, particularly within a personality framework.

Twin-Study Research

A research design used to estimate the genetic and environmental contributions to individual differences, often involving comparisons between monozygotic (identical) and dizygotic (fraternal) twins.

Genetic Influences

Factors in an individual's development and behavior attributable to genetic inheritance from their parents.