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Keep Corporation Joined an Affiliated Group by Merger in 2012

Question 54

True/False

Keep Corporation joined an affiliated group by merger in 2012.The group generated a consolidated 2012 NOL,and Keep's share of the loss was $50,000.Lacking an election by the parent to the contrary,Keep can carry the loss back to its separate 2010 return,and the parent can claim a tax refund.

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