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safezone safezone
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Posts: 782
7 years ago
Boxcar Corporation and Sidecar Corporation, an affiliated group, reports the following results for the current year:

Corporation   Ordinary Income   STCG/STCL   LTCG/LTCL
Boxcar
Sidecar   $10,000
  30,000   $10,000
(12,000)   ($ 5,000)
 16,000

The affiliated group's consolidated taxable income is
A) $40,000.
B) $49,000.
C) $51,000.
D) $52,000.
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
Authors:
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That's not philosophy, it's geometry
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RimounRimoun
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Posts: 558
7 years ago
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safezone Author
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7 years ago
You make an excellent tutor!
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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