Par Corp. acquired the assets of its wholly owned subsidiary, Sub Corp., under a plan that qualified as a tax-free complete liquidation of Sub. Which of the following of Sub’s unused carryovers may be transferred to Par?
|
Excess charitable contributions |
Net operating loss |
|
|
a. |
No |
Yes |
|
b. |
Yes |
No |
|
c. |
No |
No |
|
d. |
Yes |
Yes |