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Business, 24.04.2020 01:50 mariah10455

Gabe owns and operates Lacrosse Gear USA which is a closely held C corporation that is not a personal service corporation. Lacrosse Gear USA has $60,000 of passive losses, $30,000 of active business income, and $15,000 of portfolio income. How much of the passive loss may Lacrosse Gear USA deduct in the current year?

A) $60,000.
B) $30,000.
C) $45,000.
D) $15,000.
E) $0.

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