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Diversified Equity Holdings Corp, an S corp with 90000 AE&P has gross receipts of 240000, taxable income of 120000, passive investment income of 100000, and
Diversified Equity Holdings Corp, an S corp with 90000 AE&P has gross receipts of 240000, taxable income of 120000, passive investment income of 100000, and expenses attributable to the passive investment income of 20000. The corporations excess net passive income is a)60000 b)0 c)32000 d)80000
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