Grebe Corporation, a closely held corporation that is not a PSC, had $75,000 of active income, $60,000 of portfolio income, and a $105,000 passive loss during the year. How much of the passive loss can Grebe deduct in the current year?
A)$0.
B)$60,000.
C)$105,000.
D)$135,000.
E)None of the above.

Question

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The Answer of Grebe Corporation, a closely held corporation that is not a PSC, had $75,000 of active income, $60,000 of portfolio income, and a $105,000 passive loss during the year. How much of the passive loss can Grebe deduct in the current year?
A)$0.
B)$60,000.
C)$105,000.
D)$135,000.
E)None of the above.

Grebe Corporation, a Closely Held Corporation That Is Not a PSC