Consider the group to be an affiliated group eligible to file a consolidated tax return in answering the following

Corporations P, S, and T have the following income and expenses for 2020. In addition, Corporation P is owned 100% by individual A. Corporation S is owned 100% by P. Corporation T was newly purchased on January 12, 2020, by P and S who each own a 50% interest. All corporations keep their books on a calendar year. Corporation S has a capital loss carryforward of $7,000 while Corporation T has a net operating loss carryforward of $30,000 from a separate return year. -'_ $ 202.000 $ 61.000 Dividends From S 20.000 From GE (8% owned) Long-term capital gain Total income Deductions General and admin Charitable contribution 22.000 10.000 Total deductions 197.000 70.000 Taxable income 40,000 (9,000) before NOL and DRD IDE 20.000 NOL 20.000 (9.000} 1. Consider the group to be an afliated group eligible to file a consolidated tax return in answering the following Calculate the consolidated capital loss deduction. Calculate the consolidated charitable contributions deduction. Calculate the consolidated Dividends Received Deduction. Calculate the consolidated Net Operating Loss deduction. Calculate consolidated taxable income Calculate consolidated tax liability. Allocate the tax liability to the members. scoops