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Child Corporation joined the Madre consolidated group in year 1 . At the time it joined the group, Child held a $ 2 , 0
Child Corporation joined the Madre consolidated group in year At the time it joined the group, Child held a $ NOL carryforward. On a consolidated basis, the members of Madre generated significant profits for many years.
Childs operating results during the first few consolidated return years were as follows.
Tax year Taxable income of
Tax year Taxable income of
Tax year Taxable income of
The rules do not apply to the group. All tax years occur after
How will Childs NOLs affect consolidated taxable income for each of these years?
Express your computations for years and as a Microsoft Excel formula.
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