Peach Corporation Had $210,000 of Net Active Income, $45,000 of Portfolio

question 40

True/False

Peach Corporation had $210,000 of net active income, $45,000 of portfolio income, and a $230,000 passive loss during the current year. If Peach is a closely held C corporation that is not a PSC, it can deduct $210,000 of the passive loss in the year.

---

Definitions:

Environmental Problems

Issues relating to damage of the natural environment due to human activity, including pollution, climate change, and loss of biodiversity.

Technological Forces

External factors in the environment that relate to technological advancements and innovations, impacting businesses and society.

Environmental Racism

The practice of disproportionately exposing communities of color and low-income groups to environmental hazards and pollution.

African-American Communities

Social, cultural, and geographical groupings of African-American individuals characterized by unique historical, economic, and social experiences.