During what time period can an affiliated group elect to file a consolidated tax return? How does it make the election? During what time period can it request to terminate its consolidation?

A. The affiliated group elects to file consolidated on the day the parent corporation becomes a more than 80% owner of a subsidiary corporation. This consolidation is permanent until the parent no longer owns 80%, at which point the final consolidated federal income tax return is filed with termination papers of the consolidation.

B. The affiliated group can elect to file consolidated at any time up until the end of the taxable year. The election is made by filing the tax return as a consolidated federal income tax return for all members of the affiliated group. A consolidation can be terminated with a form attached to the final consolidated tax return.

C. The affiliated group can elect to file consolidated at any time up until the consolidated tax return's due date. This election is made the day the return isfiled, providing every subsidiary signs an agreement to allow the parent corporation to file on their behalf. The consolidation can be terminated when the subsidiaries file a document stating the parent corporation cannot file on their behalf anymore.

D. The affiliated group can elect to file consolidated at any time up until the consolidated tax return's due date. The election is made by filing the tax return as a consolidated federal income tax return for all members of the affiliated group. The parent's sale of its sole subsidiary's stock can terminate the affiliated group, and this termination could occur at any day of the tax year.