Course Details

Consolidated Returns

This course examines the law and regulations governing the taxation of corporations filing consolidated federal income tax returns, and includes a review of the following subjects: eligibility to file consolidated returns; adjustments to group members┬┐ stock basis; intercompany transactions; unified loss rules; and treatment of group tax attributes. Reading assignments will consist principally of selections from the consolidated return regulations, with class used to review problem sets relating to the assignments. We will also review a sample tax allocation agreement and purchase and sale agreement to see how the consolidated return rules apply in practice. The course will emphasize principles that are either unique, or peculiarly adapted, to consolidated returns. Pre-requisite: Not open to second year JD students who are not enrolled in the Joint Degree Program without the permission of the instructor. Basic Federal Income Tax and Entity Taxation are pre-requisites for JD candidates.

Catalog Number: TAXLAW 689
Practice Areas: Taxation Practice Area


Course History

Spring 2017
Title: Consolidated Returns
Faculty: Sheffield, Jeffrey T. (courses | profile)
Section: 1     Credits: 2.0
Capacity: 70     Actual: 21

Spring 2016
Title: Consolidated Returns
Faculty: Sheffield, Jeffrey T. (courses | profile)
Section: 1     Credits: 2.0
Capacity: 45     Actual: 15