group loss item
Defined in 1 place of the United States Code.
The term “group loss item” means any of the following items of any other member of the affiliated group which includes the subsidiary:
(i) Any net operating loss and any net operating loss carryover or carryback under section 172.
(ii) Any loss from the sale or exchange of any capital asset and any capital loss carryover or carryback under section 1212.
Source
- 1994–present26 U.S.C. § 1503Internal Revenue Code · Computation and payment of tax · for purposes of this section