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ParentCo and SubCo Report the Following Items of Income and Deduction

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ParentCo and SubCo report the following items of income and deduction for the current year. ParentCo's SubCo's Taxable Item Taxable Income Income Income loss) from operations $100,000 $10,000)
§ 1231 loss 5,000)
Capital gain 15,000
Charitable contribution 12,000
Compute ParentCo and SubCo's taxable income or loss computed on a separate basis. Then compute the total of those amounts if appropriate. ParentCo and SubCo report the following items of income and deduction for the current year. ParentCo's SubCo's Taxable Item Taxable Income Income Income loss) from operations $100,000 $10,000) § 1231 loss 5,000) Capital gain 15,000 Charitable contribution 12,000 Compute ParentCo and SubCo's taxable income or loss computed on a separate basis. Then compute the total of those amounts if appropriate.

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