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Which of the following is not considered an advantage of filing a consolidated tax return? a.Losses of an affiliate may be offset against profits of
Which of the following is not considered an advantage of filing a consolidated tax return?
a.Losses of an affiliate may be offset against profits of other members of the group.
b.The election is binding and can be discontinued only with the Commissioner's permission.
c.dividends between group members are eliminated from income.
d.The basis in the stock of a subsidiary is increased by earnings and profits accumulated during consolidated return years.
e.All of the above are advantages of filing a consolidated tax return.
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