Each corp stands on its own as far as basis.
You probably considered all these , but I hoped chiming in might help...
Did they perform transactions between each of the two corp that may have not been considered ? that MIGHT give rise to swing income from one to the other. ?
A Sub "S" subsidiary could be a possibility
Loan money to the corp for future basis.
Just a thought
Abby Alhante, CPA
Kurcias & Alhante, LLC CPAs
525 Broadhollow Road Suite 104
Melville NY 11747
516.829-5890 Fax 516-829-3976
( E mail response preferred )