Parent and Child Corporations have filed on a consolidated basis
Parent and Child Corporations have filed on a consolidated basis since the mid-1970s. The group reports the following amounts for the current tax year.
What is the Parent group’s net operating loss for the year that is available for carryback and carryforward?
Operating loss, including the following ........ $2,500,000
Charitable contributions .............. 600,000
Net capital gain .................. 1,100,000
Dividends received deduction ............ 450,000
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