Ash, Inc., a closely held personal service corporation, has $100,000 of passive losses. In addition, Ash has

Question:

Ash, Inc., a closely held personal service corporation, has $100,000 of passive losses. In addition, Ash has $80,000 of active business income and $20,000 of income. How much of the passive loss may Ash use to offset the other types of income?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...