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Business, 06.12.2019 05:31 leslievramirez4074

Parent company x and subsidiary company y file a calendar year consolidated federal income tax return. company x reported a $120,000 tax loss, which included a $10,000 dividend from y. company y reported $140,000 of taxable income, which included $30,000 of dividends received from less than 20% owned stock investments. neither company took into account any applicable dividends received deduction. what is the group's consolidated tax loss for the year?

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