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

question 85

True/False

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

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Definitions:

SEDAR

SEDAR (System for Electronic Document Analysis and Retrieval) is a filing system developed for the Canadian securities industry to facilitate the electronic filing and public dissemination of securities information.

Investment Advisors

Professionals who provide advice on investment decisions, often related to securities such as stocks, bonds, and mutual funds.

Registration Requirement

A legal or regulatory condition mandating the official recording of an item, event, or transaction before it becomes effective or valid.

Financial Market Commentators

Individuals or entities that provide analysis, opinions, or commentary on market trends and financial news.