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Peach Corporation Had $210,000 of Active Income,$45,000 of Portfolio Income,and

Question 92

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Peach Corporation had $210,000 of active income,$45,000 of portfolio income,and a $230,000 passive loss during the year.If Peach is a closely held C corporation that is not a PSC,it can deduct $210,000 of the passive loss in the year.

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