### Question
How does Income Taxes define consolidated year?


### Answer
Under *26 U.S.C. § 1503*, **consolidated year** is defined as:

> any taxable year for which the affiliated group makes a consolidated return

#### Citation:
  - *26 U.S.C. § 1503*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 6-CONSOLIDATED RETURNS > Subchapter A-Returns and Payment of Tax**

