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How much is parent separate taxable income

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Parent Corporation's current-year taxable income included $372,200 net income from operations and a $37,220 net long-term capital gain. Parent also made a $18,610 charitable contribution. SubCo generated $167,490 income from operations and incurred a $7,444 short-term capital loss.

Problem a. How much is Parent's separate taxable income?

Problem b. How much is SubCo's separate taxable income?

Problem c. How much is consolidated taxable income?

Reference no: EM132836547

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