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Erin Corporation, a Personal Service Corporation, Had $230,000 of Active

Question 22

Multiple Choice

Erin Corporation, a personal service corporation, had $230,000 of active income, $40,000 of portfolio income, and a $250,000 passive loss during the year. How much is Erin's taxable income?


A) $20,000.
B) $40,000.
C) $270,000.
D) $520,000.
E) None of the above.

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