P Corporation has owned all the stock of S and T Corporations for several years. P sells

Question:

P has owned all the stock of S and T Corporations for several years. P sells all of T’s stock to Z during the current year.
a. Does P’s sale of T’s stock cause the affiliated group to cease to exist?
b. Is T required to file a consolidated tax return with Z?
c. If P purchases all of T’s stock from Z three years after it sells T’s stock to Z, is T required to file a consolidated tax return with P and S?
d. How would your answers change if P did not own any of S’s stock? Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...