Compute hummingbirds taxable income for the year

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Reference no: EM131198816

Hummingbird Corporation, a closely held C corporation that is not a PSC, has $40,000 of net active income, $15,000 of portfolio income, and a $45,000 loss from a passive activity.

Compute Hummingbird's taxable income for the year.

Reference no: EM131198816

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