Multiple Choice
During the current year, Violet, Inc., a closely held corporation (not a PSC) , has $130,000 of passive loss, $90,000 of active business income, and $70,000 of portfolio income. How much is Violet's taxable income for the current year?
A) $30,000.
B) $70,000.
C) $90,000.
D) $160,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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