Jans, an individual, owns 80% and 100% of the total value and voting power of A and B Corporations, respectively, which in turn own the following (both value and voting power):

	Ownership
Property	A Corp.	B Corp.
C Corp.	80%	--
D Corp.	--	100%

All companies are C corporations except B Corp., which had elected S status since inception. Which of the following statements is correct with respect to the companies’ ability to file a consolidated return?

A) A, C, and D may file as a group

B) A and C may not file as a group, and B and D may not file as a group

C) A and C may file as a group, and B and D may file as a group

D) A and C may file as a group, but B and D may not file as a group

Answer rating: 100% (QA)

Correct option is d A and C may file as a group but B and D may n... View the full answer