Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
Let's try something simpler. Bronze Corporation has $100,000 of active income, $55,000 of portfolio income, and a $55,000 passive activity loss.
Let's try something simpler. Bronze Corporation has $100,000 of active income, $55,000 of portfolio income, and a $55,000 passive activity loss. Under what circumstances is Bronze prohibited from deducting the loss? Allowed to deduct the loss?
