Waiving a target’s loss carryforwards – a preservation of stock basis.: An article from: The Tax Adviser

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This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on July 1, 1997. The length of the article is 1117 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Potential basis reductions resulting from a consolidated group member’s acquisition of a corporation that has unused loss carryovers that subsequently expire can be ameliorated by electing to waive the loss carryover held by the acquired corporation. The election is made on the consolidated group’s return for the year of the acquisition. The loss carryover will be treated as having expired immediately before the acquired corporation became a member of the consolidated group.

Citation Details
Title: Waiving a target’s loss carryforwards – a preservation of stock basis.
Author: Patricia W. Pellervo
Publication: The Tax Adviser (Magazine/Journal)
Date: July 1, 1997
Publisher: American Institute of CPA’s
Volume: 28 Issue: n7 Page: 412(2)

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