For 2014 gray inc a closely-held c corporation not a

Reference no: EM13587928

For 2014, Gray Inc., a closely-held C corporation (not a personal service corporation), has $600,000 of passive activity losses from rental activities, $500,000 of active business income, and $200,000 of portfolio income. How much of the passive activity loss may offset other income?

Reference no: EM13587928

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