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How much is parent separate taxable income

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Reference no: EM132919021

Question - 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.

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

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

c. How much is consolidated taxable income?

Reference no: EM132919021

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