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ParentCo and SubCo report the following items of income and deduction for the current year. ParentCo's SubCo's Taxable Item Taxable Income Income Income (loss) from
ParentCo and SubCo report the following items of income and deduction for the current year.
| ParentCo's | SubCo's Taxable | |
| Item | Taxable Income | Income |
| Income (loss) from operations | $100,000 | $10,000 |
| 1231 loss | (10,000) | |
| Capital gain | 12,000 | |
| Charitable contribution | 20,000 | 1,000 |
Compute ParentCo and SubCo's consolidated taxable income or loss.
a.$112,000
b.$91,000
c.$100,800
d.$122,000
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How To Build A Cyber Resilient Organization Internal Audit And IT Audit
Authors: Eugene Fredriksen
1st Edition
1032402210, 978-1032402215
