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In accordance with the Internal Revenue Code for consolidated tax returns, which of the following statements is false? A dividend distributed by one consolidating
In accordance with the Internal Revenue Code for consolidated tax returns, which of the following statements is false? A dividend distributed by one consolidating company to another is eliminated. B Consolidated tax returns are filed by members of an affiliated group. When a consolidated return is filed, business losses of one affiliated member are not deductible and may not offset taxable income of other members. DA single accumulated earnings credit of $250,000 must be shared equally among members of a controlled group of corporations
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