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kondaur [170]
4 years ago
10

White Corporation, a closely held personal service corporation, has $150,000 of passive activity losses, $120,000 of active busi

ness income, and $30,000 of portfolio income. How much of the passive activity loss can White Corporation deduct? a.$0 b.$30,000 c.$120,000 d.$150,000 e.None of these choices are correct.
Business
1 answer:
LenKa [72]4 years ago
3 0

Answer:

correct option is a.$0

Explanation:

given data

passive activity losses = $150,000

active business income = $120,000

portfolio income = $30,000  

to find out  

how much passive activity loss can White Corporation deduct

solution

as per given we know that here white corporation is a Personal Service Corporation

so that it is not deduct the passive loss against the portfolio income

so correct option is a.$0

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Answer:

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Lapatulllka [165]

Answer:

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Explanation:

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         Putting values;

              = 60 * [ 1- (1+ 0.05)∧-7 ]/ 0.05  +  1000 / (1+0.05)∧7

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6 0
3 years ago
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shutvik [7]

Answer:

e. None of the above

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6 0
2 years ago
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