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The Giant consolidated group includes SubTwo, which was acquired as part of a § 382 ownership change. SubTwo brought with it to the group a large NOL carryforward, $3,000,000 of which is available this year under the SRLY rules due to SubTwo's positive contribution to the group's taxable income. The § 382 limitation with respect to SubTwo is $500,000.

How much of SubTwo's NOL (if any) can be used this year to reduce consolidated taxable income?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92319623

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