Which of the following statements is false regarding consolidated tax returns?

• A. An affiliated group can file a consolidated tax return only if it elects to do so.

• B. For a group of corporations filing a consolidated tax return, losses from certain intercompany transactions are deferred until realized through a transaction outside of the group.

• C. For a group of corporations filing a consolidated tax return, an advantage is that losses of one group member may offset gains of another group member.

• D. To file a consolidated tax return, one corporation must own at least 50% of the stock of another corporation.