How much of the subsidiary loss can be carried back


Parent and Subsidiary Corporations form an affiliated group. Last year, the initial year of operation, Parent and Subsidiary filed separate returns. This year the group files a consolidated return. Taxable Income Last Current Parent ($16,000) $20,000 Subsidiary 10,000 (21,000) How much of the Subsidiary loss can be carried back to last year?

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Accounting Basics: How much of the subsidiary loss can be carried back
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