# Consolidated return

> Consolidated return — One federal income tax return filed by an affiliated group of corporations: a common parent and the corporations it owns at least 80% of, by vote and by value.

Source: https://lopifi.com/glossary/consolidated-return
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is consolidated return?** In accounting, consolidated return means one federal income tax return filed by an affiliated group of corporations: a common parent and the corporations it owns at least 80% of, by vote and by value.

## Words this system refuses for it

- consolidated financial statements (GAAP's, under ASC 810, with a different control test)

- **Category:** Entity types
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** consolidated