Consolidated Net Operating Losses and Consolidated Tax Returns, accounting homework help

Imagine that a client is pursuing the acquisition of Corporation A that has
a substantial net operating loss. Corporation B is a member of the controlled
group and is currently included in the consolidated tax return that also has a
net operating loss. Analyze the potential advantages and disadvantages of
Corporation B’s acquisition of Corporation A and Corporation A’s subsequent
inclusion in Corporation B’s consolidated tax return. Suggest the key tax issues
the client should consider in determining the deductibility of the net operating
losses.
Imagine that corporations P, S, and C are members of a parent-subsidiary
controlled group filing a consolidated tax return. Corporations A and B are
members of a brother-sister controlled group that cannot file a consolidated tax
return. Design a strategy geared toward creating an affiliated group which makes
Corporations A, B, P, S, and C all eligible to file a consolidated tax return.

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