Question

ederal income tax returns on a consolidated basis? tional operations, including two-thirds of its activities in the United 21. Which of the following entities is eligible to file Federal income tax retu a. Professional sports team operating as a limited partnership. apanese corporation engaged in multinational operations, including two-thirds of its States. c. Japanese corporation engaged in multinational States. d. U.S. corporation engaged in the marijuana industry. X corporation engaged in multinational operations, including one-third of its activities in the United nnnerations on July 1

Answer 1

21) b Japense coporation engaged in multinational operations,including two-thirds of its activities in the United States.

26) a Ordinary loss allowed on $1244