The Giant consolidated group includes SubTwo, which was acquired as part of a 382 ownership change.
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The Giant consolidated group includes SubTwo, which was acquired as part of a § 382 ownership change. SubTwo brought with it to the group a large NOL carryforward, $3,000,000 of which is available this year under the SRLY rules due to SubTwo’s positive contribution to the group’s taxable income. The § 382 limitation with respect to SubTwo is $500,000.
a. How much of SubTwo’s NOL can be used this year to reduce consolidated taxable income?
b. Express this computation as a Microsoft Excel command.
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a When both the SRLY rules and a 382 limitat...View the full answer
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Related Book For 
South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts
ISBN: 1389
41st Edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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