Banana Company is widely held. It owns 85% of Strawberry Corporation. Two individuals hold the remaining 15%.
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Banana Company is widely held. It owns 85% of Strawberry Corporation. Two individuals hold the remaining 15%. Which of the following statements is true?
a. Banana and Strawberry must file a consolidated tax return.
b. Banana and Strawberry can elect to file a consolidated tax return.
c. Banana and Strawberry can file a consolidated tax return if the other owners of Strawberry agree.
d. Banana and Strawberry are brother-sister corporations.
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Related Book For
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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