Question: Lime Corporation, a closely held C corporation that is not a PSC, had $82,000 of net active income, $70,000 of portfolio income, and a $100,000

Lime Corporation, a closely held C corporation that is not a PSC, had $82,000 of net active income, $70,000 of portfolio income, and a $100,000 passive activity loss during the year. How much of the passive activity loss can Lime Corporation deduct in the current year?

a. $152,000

b. $0

c. $70,000

d. $82,000

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