Parent and Subsidiary Corporations form an affiliated group.Last year, the initial year of operation, Parent and Subsidiary filed separate returns.This year.the group files a consolidated return. How much of the Subsidiary loss can be carried back to last year?

Question

Parent and Subsidiary Corporations form an affiliated group.Last year, the initial year of operation, Parent and Subsidiary filed separate returns.This year.the group files a consolidated return.  How much of the Subsidiary loss can be carried back to last year?

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The Answer of Parent and Subsidiary Corporations form an affiliated group.Last year, the initial year of operation, Parent and Subsidiary filed separate returns.This year.the group files a consolidated return.  How much of the Subsidiary loss can be carried back to last year?

Parent and Subsidiary Corporations Form an Affiliated Group