O P and S Corporations have Wed consolidated tax returns for several years Your purchased as an remonto 0 In Year 3, so the land to Sfor $100.000 Sused the land for years sing space for its employees and made no mprovements to the land, in Yew 7, sells the land to Z Corporation, and party for $250.000 The sale's too to pay S6 in sach of years through it. The requira Z to pay rest at a rate acceptable to the IRS. Z pays all the required amounts (Assume the installment method applies) Read the elements Requirement a. What are the intercompany Hom, the corresponding toms, and the recomputed corresponding hems? For each item, select the company that is affected, enter the amount, then select the character type and what year the shares were sold in (Do not found intermediary calculations Only found the amounts you put in the the nearest dollar Company year land sold Amour Character Intercompany item P Year 1 1s 130000 Capital gain s Year 3 Corresponding its 360000 Capital gain 200000 Year 2 Capital gain P Recomputed corresponding hems trom any list or enter any number in the inputs and men come to the next question 314 P and S Corporations have fled consolidated tax retums for several years. In Year 1. P purchased and as an investment for 550.000. In Year 3. P sold the land to Sfor $160,000. Sused the land for four years as die parking space for its employees and made no improvements to the land. In Year 7. sells the land to Z Corporation, anulated party for $250.000 The sak's tem require to pay 5.000 in each of years tough it. The form the require Z to pay S Interest at a rate acceptable to the IRS Z pays all the required amounts (Assume the installment method applies.) Read the requirements Requirement a. What are the intercompany them, the corresponding items, and the recomputed corresponding items? For each hem, select the company that is affected, enter the amount, then select the character type and what year the shares were sold in (Do not und intermediary calculations. Only found the mounts you input in the cell to the nearest dollar) Company Year land old Amount Character Intercompany tom Corresponding its Recomputed corresponding thems and then continue to the next question O P and S Corporations have Wed consolidated tax returns for several years Your purchased as an remonto 0 In Year 3, so the land to Sfor $100.000 Sused the land for years sing space for its employees and made no mprovements to the land, in Yew 7, sells the land to Z Corporation, and party for $250.000 The sale's too to pay S6 in sach of years through it. The requira Z to pay rest at a rate acceptable to the IRS. Z pays all the required amounts (Assume the installment method applies) Read the elements Requirement a. What are the intercompany Hom, the corresponding toms, and the recomputed corresponding hems? For each item, select the company that is affected, enter the amount, then select the character type and what year the shares were sold in (Do not found intermediary calculations Only found the amounts you put in the the nearest dollar Company year land sold Amour Character Intercompany item P Year 1 1s 130000 Capital gain s Year 3 Corresponding its 360000 Capital gain 200000 Year 2 Capital gain P Recomputed corresponding hems trom any list or enter any number in the inputs and men come to the next question 314 P and S Corporations have fled consolidated tax retums for several years. In Year 1. P purchased and as an investment for 550.000. In Year 3. P sold the land to Sfor $160,000. Sused the land for four years as die parking space for its employees and made no improvements to the land. In Year 7. sells the land to Z Corporation, anulated party for $250.000 The sak's tem require to pay 5.000 in each of years tough it. The form the require Z to pay S Interest at a rate acceptable to the IRS Z pays all the required amounts (Assume the installment method applies.) Read the requirements Requirement a. What are the intercompany them, the corresponding items, and the recomputed corresponding items? For each hem, select the company that is affected, enter the amount, then select the character type and what year the shares were sold in (Do not und intermediary calculations. Only found the mounts you input in the cell to the nearest dollar) Company Year land old Amount Character Intercompany tom Corresponding its Recomputed corresponding thems and then continue to the next