The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock...

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The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock...

The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock of both Junior and Minor. Determine the net operating loss (NOL) that is apportioned to Minor.

Parent	($400,000)
Junior	($600,000)
Minor	$100,000

a.$300,000.

b.$100,000.

c.$0. Minor did not report an NOL of its own.

d.$0. All NOLs of a consolidated group are apportioned to the parent

business accounting

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Answer 1

Answer #1

c.$0. Minor did not report an NOL of its own.

The Only members with separate NOLs are apportioned any of the consolidated NOL of the company.Junior's NOL apportioned not the Minor's

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The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock...

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