Explore BrainMass
Share

Consolidated Taxable Income Calculation

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Please help with the CTI (consolidated taxable income) calculation.

Heuer formed MRH in 1990 and has owned 100 percent of its stock since the formation. This year, the two corporations filed their first consolidated return. Heuer had separate taxable income of $933,200. MRH had a separate taxable loss of $157,000 and a $267,890 NOL carryforward into the year. Based on this information, compute CTI.

© BrainMass Inc. brainmass.com October 15, 2018, 4:08 pm ad1c9bdddf - https://brainmass.com/business/accounting/consolidated-taxable-income-calculation-19921

Solution Preview

Calculation of consolidated taxable income
Step 1: Calculate taxable income for each consolidated member
Heuer taxable income = $933,200
MRH taxable income = - ...

Solution Summary

This solution assists with the consolidated taxable income calculation.

$2.19