ParentCo and SubCo had the following items of income and deduction for the current year. $\begin{array}{lcc}
\text { Item } & \begin{array}{c}
\text { ParentCo's } \
\text { Taxable Income }
\end{array} & \text { SubCo's Taxable Income} \
\text { Income (loss) from Operations } & \$ 100,000 & \$ 10,000\\S 1231 \text { Loss }&(10,000)\\text { Capital Gain }&&12,000\\text { Charitable Contribution } & 20,000 & 1,000
\end{array}$ Compute ParentCo and SubCo's consolidated taxable income or loss.
A)$91,000
B)$100,800
C)$112,000
D)$122,000

Question

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The Answer of ParentCo and SubCo had the following items of income and deduction for the current year. $\begin{array}{lcc}
\text { Item } & \begin{array}{c}
\text { ParentCo's } \
\text { Taxable Income }
\end{array} & \text { SubCo's Taxable Income} \
\text { Income (loss) from Operations } & \$ 100,000 & \$ 10,000\\S 1231 \text { Loss }&(10,000)\\text { Capital Gain }&&12,000\\text { Charitable Contribution } & 20,000 & 1,000
\end{array}$ Compute ParentCo and SubCo's consolidated taxable income or loss.
A)$91,000
B)$100,800
C)$112,000
D)$122,000

ParentCo and SubCo Had the Following Items of Income and Deduction