Answer:
C) Both excess charitable contributions and net operating loss
Explanation:
A parent company that liquidates a subsidiary cannot recognize any type of gain or loss from the process since their balance should have been consolidated already.
Any property that the parent company gets from the subsidiary should have the same cost basis and all the carryovers that the subsidiary had should pass to the parent company, including net operating loss carryover, business credit carryover, capital loss carryover, charitable contributions carryover, and earnings and profits carryover.
