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How much of the passive activity loss can Osprey deduct

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Problem - Osprey Corporation, a closely held corporation, has $100,000 of net active income, $25,000 of portfolio income, and a $120,000 loss from a passive activity.

a. How much of the passive activity loss can Osprey deduct in the current year if it is a PSC?

b. If it is not a PSC?

Reference no: EM132660797

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