The group of Parent Corporation,SubOne,and SubTwo has filed a consolidated return since 2009.The first two entities were incorporated in 2008,and SubTwo came into existence in 2009 through an asset spin-off from Parent.Taxable income computations for the members are shown below.None of the group members incurred any capital gain or loss transactions during 2008-2011,nor did they make any charitable contributions.
Describe the treatment of the group's 2010 consolidated NOL.Hint: Apply the offspring rule.

* Consolidated return year.

Question

The group of Parent Corporation,SubOne,and SubTwo has filed a consolidated return since 2009.The first two entities were incorporated in 2008,and SubTwo came into existence in 2009 through an asset spin-off from Parent.Taxable income computations for the members are shown below.None of the group members incurred any capital gain or loss transactions during 2008-2011,nor did they make any charitable contributions.
Describe the treatment of the group's 2010 consolidated NOL.Hint: Apply the offspring rule.
  
* Consolidated return year.

Quizplus · Accepted Answer

The Answer of The group of Parent Corporation,SubOne,and SubTwo has filed a consolidated return since 2009.The first two entities were incorporated in 2008,and SubTwo came into existence in 2009 through an asset spin-off from Parent.Taxable income computations for the members are shown below.None of the group members incurred any capital gain or loss transactions during 2008-2011,nor did they make any charitable contributions.
Describe the treatment of the group's 2010 consolidated NOL.Hint: Apply the offspring rule.
  
* Consolidated return year.

The Group of Parent Corporation,SubOne,and SubTwo Has Filed a Consolidated