26 CFR 1.1502-12 - Separate taxable income.
The separate taxable income of a member (including a case in which deductions exceed gross income) is computed in accordance with the provisions of the Code covering the determination of taxable income of separate corporations, subject to the following modifications:
(g) In the computation of the deduction under section 167, property shall not lose its character as new property as a result of a transfer from one member to another member during a consolidated return year if:
(1) The transfer occurs on or before January 4, 1973, or
(2) The transfer occurs after January 4, 1973, and the transfer is an intercompany transaction as defined in § 1.1502-13 or the basis of the property in the hands of the transferee is determined (in whole or in part) by reference to its basis in the hands of the transferor;
(m) No deduction under section 922 (relating to the deduction for Western Hemisphere trade corporations) shall be taken into account;
(q) A thrift institution's deduction under section 593(b)(2) (relating to the addition to the reserve for bad debts of a thrift institution under the percentage of taxable income method) shall be determined under § 1.1502-42.
- 26 CFR 1.1552-1 — Earnings and Profits.
- 26 CFR 1.1502-9 — Consolidated Overall Foreign Losses, Separate Limitation Losses, and Overall Domestic Losses.
- 26 CFR 1.1502-4 — Consolidated Foreign Tax Credit.
- 26 CFR 1.1502-11 — Consolidated Taxable Income.
- 26 CFR 1.1502-17 — Methods of Accounting.
- 26 CFR 1.1502-42 — Mutual Savings Banks, Etc.
- 26 CFR 1.1502-100 — Corporations Exempt From Tax.
- 26 CFR 1.1502-16 — Mine Exploration Expenditures.
- 26 CFR 1.1502-79A — Separate Return Years Generally Applicable for Consolidated Return Years Beginning Before January 1, 1997.
- 26 CFR 1.1502-21A — Consolidated Net Operating Loss Deduction Generally Applicable for Consolidated Return Years Beginning Before January 1, 1997.
- 26 CFR 1.1502-12 — Separate Taxable Income.
- 26 CFR 1.1503-2 — Dual Consolidated Loss.
- 26 CFR 1.57-1 — Items of Tax Preference Defined.
- 26 CFR 1.167(c)-1 — Limitations on Methods of Computing Depreciation Under Section 167(b) (2), (3), and (4).