Question
Boxcar Corporation and Sidecar Corporation, an affiliated group, reports the following results for the current year: Corporation Ordinary Income STCG/STCL LTCG/LTCL Boxcar Sidecar $10,000 30,000
Boxcar Corporation and Sidecar Corporation, an affiliated group, reports the following results for the current year:
| Corporation | Ordinary Income | STCG/STCL | LTCG/LTCL |
| Boxcar Sidecar | $10,000 30,000 | $10,000 (12,000) | ($ 5,000) 16,000 |
What is the affiliated group's consolidated regular tax liability?
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
13th edition
133428532, 978-0133428537
