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Mako and Snufco Corporations Are Affiliated and Have Filed Consolidated

Question 73

Multiple Choice

Mako and Snufco Corporations are affiliated and have filed consolidated returns for the first time in 2019. Mako acquired 100% of Zebco stock on January 1 of 2019, the date of Zebco's formation. Mako, Snufco, and Zebco, report the following taxable incomes for 2018 and 2019. Mako and Snufco Corporations are affiliated and have filed consolidated returns for the first time in 2019. Mako acquired 100% of Zebco stock on January 1 of 2019, the date of Zebco's formation. Mako, Snufco, and Zebco, report the following taxable incomes for 2018 and 2019. How much of the 2018 Zebco NOL be used to offset CTI in 2019? A) $0 B) $12,000 C) $15,000 D) $20,000 How much of the 2018 Zebco NOL be used to offset CTI in 2019?


A) $0
B) $12,000
C) $15,000
D) $20,000

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