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Table Corporation owns 100% of Sofa, Inc. Table's taxable income consisted of the following: operating income: 300,000, net capital loss 15,000, ordinary income from depreciation
Table Corporation owns 100% of Sofa, Inc. Table's taxable income consisted of the following: operating income: 300,000, net capital loss 15,000, ordinary income from depreciation recapture 3,000. Sofa's taxable income consisted of the following: operating loss 50,000, net capital gain 25,000. Assuming that Table does NOT file a consolidated return with Sofa, what is Table's taxable income?
| 288,000 | |
| 300,000 | |
| 303,000 | |
| none of the above |
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