The Parent consolidated group reports the following results for the tax year. Determine each member's share of the consolidated tax liability, assuming that all members have consented to use the relative taxable income tax-sharing method. Dollar amounts are listed in millions, and a 21% income tax rate applies to all of the entities. $$\begin{array} { | l | c | c | c | c | c | }
\hline & \text { Parent } & \text { SubOne } & \text { SubTwo } & \text { SubThree } & \text { Consolidated } \
\hline \text { Ordinary income } & \$ 600 & \$ 200 & \$ 60 & ( \$ 30 ) & \$ 830 \
\hline \text { Capital gain/loss } & - 0 - & - 0 - & 20 & ( 5 ) & 15 \
\hline \S 1231 \text { gain/loss } & \underline { 130 } & \underline { - 0 - } & \underline { ( 55 ) } & \underline { - 0 - } & \underline { 75 } \
\hline
\end{array}$$

Question

The Parent consolidated group reports the following results for the tax year. Determine each member's share of the consolidated tax liability, assuming that all members have consented to use the relative taxable income tax-sharing method. Dollar amounts are listed in millions, and a 21% income tax rate applies to all of the entities. $$\begin{array} { | l | c | c | c | c | c | } 
\hline & \text { Parent } & \text { SubOne } & \text { SubTwo } & \text { SubThree } & \text { Consolidated } \
\hline \text { Ordinary income } & \$ 600 & \$ 200 & \$ 60 & ( \$ 30 ) & \$ 830 \
\hline \text { Capital gain/loss } & - 0 - & - 0 - & 20 & ( 5 ) & 15 \
\hline \S 1231 \text { gain/loss } & \underline { 130 } & \underline { - 0 - } & \underline { ( 55 ) } & \underline { - 0 - } & \underline { 75 } \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of The Parent consolidated group reports the following results for the tax year. Determine each member's share of the consolidated tax liability, assuming that all members have consented to use the relative taxable income tax-sharing method. Dollar amounts are listed in millions, and a 21% income tax rate applies to all of the entities. $$\begin{array} { | l | c | c | c | c | c | } 
\hline & \text { Parent } & \text { SubOne } & \text { SubTwo } & \text { SubThree } & \text { Consolidated } \
\hline \text { Ordinary income } & \$ 600 & \$ 200 & \$ 60 & ( \$ 30 ) & \$ 830 \
\hline \text { Capital gain/loss } & - 0 - & - 0 - & 20 & ( 5 ) & 15 \
\hline \S 1231 \text { gain/loss } & \underline { 130 } & \underline { - 0 - } & \underline { ( 55 ) } & \underline { - 0 - } & \underline { 75 } \
\hline
\end{array}$$

The Parent Consolidated Group Reports the Following Results for the Tax