### Question
What does consolidated year mean?


### Answer
**Consolidated year** has the following meaning in *26 U.S.C. § 1503*:

> 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**

