For purposes of the passive loss rules, what is a closely held corporation? How is the tax

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For purposes of the passive loss rules, what is a closely held corporation? How is the tax treatment of passive losses incurred by a closely held corporation different from the tax treatment of passive losses incurred by
a. Individuals?
b. Corporations?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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