How much passive loss can Sage deduct

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Reference no: EM13154950

Sage, Inc., a closely held corporation that is not a PSC, has a $140,000 passive loss, $85,000 of active business income, and $35,000 of portfolio income. How much of the passive loss can Sage deduct?

a. $0.

b. $85,000.

c. $120,000.

d. $140,000.

e. None of the above.

Reference no: EM13154950

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