when a new corporation is created from the old subsidiary under provisions of 338, the new corporation may A. adopt any tax year that suits its purposes, limited only by the consolidated return rules. B. Disregard anti-churning rules and use MACRS deprecation for all of the purchased property. C. not have available any net operating loss carryovers from of the old subsidary. D. Do all of the above.

when a new corporation is created from the old subsidiary under provisions of 338, the new corporation may A. adopt any tax year that suits its purposes, limited only by the consolidated return rules. B. Disregard anti-churning rules and use MACRS deprecation for all of the purchased property. C. not have available any net operating loss carryovers from of the old subsidary. D. Do all of the above.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter6: Corporations: Redemptions And Liquidations

Section: Chapter Questions

Problem 3BCRQ

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