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The Group of Parent Corporation,SubOne,and SubTwo Has Filed a Consolidated

Question 49

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The group of Parent Corporation,SubOne,and SubTwo has filed a consolidated return since 2011.The first two entities were incorporated in 2010,and SubTwo came into existence in 2011 through an asset spin-off from Parent.Taxable income computations for the members are shown below.None of the group members incurred any capital gain or loss transactions during 2010-2013,nor did they make any charitable contributions.
Describe the treatment of the group's 2012 consolidated NOL.Hint: Apply the offspring rule.
The group of Parent Corporation,SubOne,and SubTwo has filed a consolidated return since 2011.The first two entities were incorporated in 2010,and SubTwo came into existence in 2011 through an asset spin-off from Parent.Taxable income computations for the members are shown below.None of the group members incurred any capital gain or loss transactions during 2010-2013,nor did they make any charitable contributions. Describe the treatment of the group's 2012 consolidated NOL.Hint: Apply the offspring rule. * Consolidated return year. * Consolidated return year.

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