A closely held c corporation that is not a psc has 40000


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.

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Taxation: A closely held c corporation that is not a psc has 40000
Reference No:- TGS01580996

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