### Question
How is the term period of affiliation defined?


### Answer
The term **period of affiliation** is defined in *26 U.S.C. § 1051* as the following:

> the period during which such corporations were affiliated (determined in accordance with the law applicable thereto) but does not include any taxable year beginning on or after January 1, 1922, unless a consolidated return was made, nor any taxable year after the taxable year 1928

#### Citation:
  - *26 U.S.C. § 1051*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter O-Gain or Loss on Disposition of Property > PART IV-SPECIAL RULES**

