The group of Parent Corporation, SubOne, and SubTwo has filed a consolidated return since 2010. The first two entities were incorporated in 2009, and SubTwo came into existence in 2010 through an asset spin-off from Parent. Taxable income computations for the members are shown below. None of the group members incurred any capital gain or loss transactions during 2009-2012, nor did they make any charitable contributions.
Describe the treatment of the group's 2011 consolidated NOL. Hint: Apply the offspring rule.
* Consolidated return year.
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