Banana Company is widely held. It owns 85% of Strawberry Corporation. Two individuals hold the remaining 15%.

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Banana Company is widely held. It owns 85% of Strawberry Corporation. Two individuals hold the remaining 15%. Which of the following statements is true?

a. Banana and Strawberry must file a consolidated tax return.

b. Banana and Strawberry can elect to file a consolidated tax return.

c. Banana and Strawberry can file a consolidated tax return if the other owners of Strawberry agree.

d. Banana and Strawberry are brother-sister corporations.

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Related Book For answer-question

Fundamentals Of Taxation 2019

ISBN: 9781260158670

12th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Question Posted: Jun 03, 2019 06:56 AM

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Banana Company is widely held. It owns 85% of Strawberry Corporation. Two individuals hold the remaining 15%.

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Fundamentals Of Taxation 2019

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