Consolidated Returns

2 Credit Hours

This course examines the law and regulations governing the taxation of corporations filing consolidated federal income tax returns, and includes a review of the following subjects: eligibility to file consolidated returns; adjustments to group membersstock basis; intercompany transactions; unified loss rules; and treatment of group tax attributes. Reading assignments will consist principally of selections from the consolidated return regulations, with class used to review problem sets relating to the assignments. The course will emphasize principles that are either unique, or peculiarly adapted, to consolidated returns. Registration Requirements: Not open to second year JD students who are not enrolled in the Joint Degree Program without the permission of the instructor. Basic Federal Income Tax, or instructor consent is a pre-requisite for JD candidates. Evaluation Methods: Grades will be based on a final examination.