The general rule for tax attributes of liquidating corporations is
A)they disappear when the liquidation is complete.
B)they carry over for five years.
C)they disappear only for controlled subsidiary corporations.
D)they carry over for an indefinite period of time.

Question

Quizplus · Accepted Answer

Tax attributes of a liquidating corporation generally disappear when the liquidation is complete, as the corporation ceases to exist and thus cannot utilize these attributes in future tax years.

The General Rule for Tax Attributes of Liquidating Corporations Is