The Parent consolidated group reports the following results for the tax year. Dollar amounts are...
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The Parent consolidated group reports the following results for the tax year. Dollar amounts are listed in millions. Parent $600 SubOne $200 SubTwo $140 SubThree Consolidated ($90) $850 0 0 60 (25) 35 Ordinary income Capital gain/loss $ 1231 gain/loss Separate taxable income 250 0 (50) 0 200 $850 $200 $150 ($90) with a $25 capital loss carryover $1,085 $228 Consolidated taxable income Consolidated tax liability Energy tax credit from Subone Net tax due (20) $208 Determine each member's share of the consolidated tax liability. All of the members have consented to use the relative taxable income method. Enter amounts in millions. When required, round any division to four decimal places and round your final answer to the nearest million. If an amount is zero, enter "O". Allocated Tax Due $ million 850 x Parent SubOne $ 200 x million SubTwo million 150 X SubThree million 0 Total $208 million
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