Multiple Choice
During the current year, Thrasher, Inc., a closely held personal service corporation, has $67,500 of active business income, $52,500 of portfolio income, and $120,000 of passive loss.How much of the passive loss can Thrasher deduct in the current year?
A) $0.
B) $52,500.
C) $67,500.
D) $120,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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