The Harris consolidated group reports a net operating loss (NOL) for the year. The tax law works to:
A)Allow unused charitable contributions a 20-year carryforward.
B)Disallow any carrybacks of NOL deductions.
C)Keep the consolidated group from benefiting when the election to consolidate is motivated chiefly by tax reduction strategies.
D)All of the above statements describe effects of the consolidated return rules.

Question

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The Answer of The Harris consolidated group reports a net operating loss (NOL) for the year. The tax law works to:
A)Allow unused charitable contributions a 20-year carryforward.
B)Disallow any carrybacks of NOL deductions.
C)Keep the consolidated group from benefiting when the election to consolidate is motivated chiefly by tax reduction strategies.
D)All of the above statements describe effects of the consolidated return rules.

The Harris Consolidated Group Reports a Net Operating Loss (NOL)