In the Current Year,Crow Corporation,a Closely Held C Corporation That

question 70

Multiple Choice

In the current year,Crow Corporation,a closely held C corporation that is not a personal service corporation,has $100,000 of passive losses,$80,000 of active business income,and $20,000 of portfolio income.How much of the passive loss may Crow deduct in the current year?

• A)$0.
• B)$20,000.
• C)$80,000.
• D)$100,000.
• E)None of the above

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Definitions:

Temper Tantrum

An emotional outbreak, usually exhibited by children, characterized by crying, screaming, or aggressive behaviors in response to frustration or lack of control.

Id

Contains a reservoir of unconscious psychic energy that, according to Freud, strives to satisfy basic sexual and aggressive drives. The id operates on the pleasure principle, demanding immediate gratification.

Superego

In Freudian psychology, the part of the psyche that operates as a moral conscience.

Erogenous Zone

Areas of the body that are particularly sensitive to stimulation and can lead to sexual arousal when touched.