KPMG PPT - Tax Executives Institute, Inc.
KPMG PPT - Tax Executives Institute, Inc.
KPMG PPT - Tax Executives Institute, Inc.
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GLAM 2012-006<br />
Situation 2<br />
AB $5<br />
P<br />
$10 debt<br />
AB $10<br />
Wanted Intangible<br />
AB $5<br />
P<br />
WI<br />
$10 debt<br />
S1<br />
S<br />
S1<br />
S<br />
►On December 31, Year 1, S elects to be disregarded as an entity separate from P<br />
►On the consolidated tax return for Year 1, P claims a worthless stock deduction with respect to<br />
its equity ownership in S<br />
©2012 <strong>KPMG</strong> LLP, a Delaware limited liability partnership and the U.S. member firm of the <strong>KPMG</strong> network of independent member<br />
firms affiliated with <strong>KPMG</strong> International Cooperative (“<strong>KPMG</strong> International”), a Swiss entity. All rights reserved.<br />
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