Treas. Reg. §1.1502-91(c)(1) defines a loss group as a consolidated group that (i) is entitled to use an NOL carryover that did not arise in a separate return limitation year (“SRLY”); (ii) has a consolidated NOL for the taxable year in which a testing date of the common parent occurs (determined by treating the common parent as a loss corporation); or (iii) has a net unrealized built-in loss (determined by treating the date on which the determination is made as though it were a change date).
A loss group also includes a consolidated group that is entitled to use a capital loss or credit carryover or a capital loss arising in the tax year of the ownership change, a foreign tax credit, a general business tax credit and/or a minimum tax credit.
See Treas. Reg. § 1.1502-91(c)(1); Treas. Reg. § 1.1502-98.