C:8-72
Angela owns all the stock of A, B, and P Corporations. P has
owned all the stock of S1 Corporation for six years. The P-S1
affiliated group has filed a consolidated tax return in each of
these six years using the calendar year as its tax year. On July 10
of the current year (a nonleap year). Angela sells her entire stock
investment in A, which uses the calendar year as its tax year. No
change takes place in...