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Compute Hummingbird taxable income for the year

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Reference no: EM132644278

Problem - Hummingbird Corporation, a closely held C corporation that is not a PSC, has $40,000 of net active income, $15,000 of portfolio income, and a $45,000 loss from a passive activity. Compute Hummingbird's taxable income for the year.

Reference no: EM132644278

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